Geneva (awp) – The real estate company PSP Swiss Property has acquired a commercial building in the banking district of Geneva. The purchase price of this property with a surface area of 4150m2 amounts to 58 million Swiss francs.
The building, purchased last Friday and located rue de Hesse 18, has an office space of 3,700 m2 and a warehouse of 450 m2, specifies PSP Swiss Property in a press release published Monday
The seller, the Edmond de Rothschild bank, is thus leaving its head office and will rent it until the end of June 2026. “The building generates an attractive initial net yield of 4% and has development potential and therefore interesting income. medium and long term”, affirms PSP Swiss Property which intends to reposition the building as a hotel. As part of the transaction, the company has developed a corresponding development option with a hotel operator.
PSP Swiss Property owns six other office buildings in the area which it intends to “make even more attractive”.
For its part, the Edmond de Rothschild bank announces in another press release that it will bring together all of its activities in Geneva in a building in the Étang eco-district in Vernier, from October 2024. This new headquarters, named Belvédère, covers 13,000 m2 and will bring together 800 Geneva employees in the same building, compared to six currently.
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