PSP Swiss Property sells office building in Petit-Lancy, Geneva
Streamlining of the Geneva portfolio and focus on centrally located properties.
Streamlining of the Geneva portfolio and focus on centrally located properties.
Property News
27 June 2018
PSP Swiss Property sells office building in Petit-Lancy, Geneva
Streamlining of the Geneva portfolio and focus on centrally located properties.
The office property located at Av. de Morgines 8/10 in Petit-Lancy (around 14’000 m2 letting area) has been sold for CHF 55 million to a subsidiary of Epic Suisse AG.
The sale results in a vacancy reduction of the whole portfolio by 1.2 percentage points (as per end of March 2018, the vacancy rate was 8.5%). PSP Swiss Property will communicate an updated vacancy forecast for the year-end 2018 in the context of its H1 2018 release on 17 August 2018.
Despite this sale, Geneva remains a key market for PSP Swiss Property – as known, a prime real estate portfolio with several properties located in Geneva’s banking district was acquired early February 2018.
Further information
Adrian Murer, CIO · Phone +41 (0)44 625 55 77 · Mobile +41 (0)76 420 26 27
Vasco Cecchini, CCO · Phone +41 (0)44 625 57 23 · Mobile +41 (0)79 650 84 32