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PSP Swiss Property AG / Key word(s): Miscellaneous
Acquisition commercial property
2024-07-01 / 18:00 CET/CEST
PSP Swiss Property buys an attractive commercial property with development potential in the Geneva "Quartier des
Banques".
As of 28 June 2024, PSP Swiss Property has acquired a commercial property in a very good city centre location in
Geneva's "Quartier des Banques" for CHF 58 million. The property has a leasable floor space of approximately 4,150 m^2
(office 3,700 m^2 and storage 450 m^2). The Bank Edmond de Rothschild is thus selling its head office and will rent it
until the end of June 2026 (sale-lease-back). The building generates an attractive net initial yield of 4 percent and
has an attractive development and thus earnings potential in the medium to longer term. PSP Swiss Property intends to
reposition the property as a hotel and has worked out a corresponding development option together with a hotel operator
during the transaction. The repositioning is intended to make the neighbourhood, where PSP Swiss Property owns six
other office properties, even more attractive.
Further information
Sam Schwarz, Transactions & Portfolio Steering · Tel. +41 (0)44 625 55 77 · Mobile +41 (0)79 137 93 49
Vasco Cecchini, CCO & Head IR · Tel. +41 (0)44 625 57 23 · Mobile +41 (0)79 650 84 32
PSP Swiss Property - leading Swiss real estate company
PSP Swiss Property owns a real estate portfolio of CHF 9.6 billion in Switzerland's main economic areas; its market
capitalisation amounts to CHF 5.3 billion. The 98 employees are based in Basel, Geneva, Zug and Zurich.
PSP Swiss Property has been listed on the SIX Swiss Exchange since March 2000 (symbol: PSPN, security number: 1829415,

ISIN CH0018294154).  
End of Media Release  
Language:     English 
Company:      PSP Swiss Property AG 

Kolinplatz 2
6300 Zug
Switzerland

Phone:        +41417280404 
Fax:          +41417280409 
E-mail:       info@psp.info 
Internet:     www.psp.info 
ISIN:         CH0018294154 
Valor:        1829415 
Listed:       SIX Swiss Exchange 
EQS News ID:  1937281 

End of News EQS News Service
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1937281 2024-07-01 CET/CEST

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END) Dow Jones Newswires

July 01, 2024 12:01 ET (16:01 GMT)