Swiss Prime Site has announced plans to convert an office building at Zurich's Brandschenkestrasse into a 380-room hotel to be operated by Motel One group.
Swiss Prime Site has announced plans to convert an office building at Zurich's Brandschenkestrasse into a 380-room hotel to be operated by Motel One group.
SPS is investing CHF 50 mln (€41 mln) to redevelop the complex, which consists of four buildings with the oldest one dating back to 1910. The asset, which will have a value of CFH 96 mln on completion in 2016, provides 13,250 m2 of rentable space.
Motel One in Zurich is the second Motel One hotel being constructed by SPS. In Basel, the property company is redeveloping a building at Freie Strasse 68 into a 136-room hotel for roughly CHF 17 mln.
