Varia Swiss Realtech Properties SA continues to successfully expand its Swiss commercial portfolio with the acquisition of a new industrial asset in Meyrin/Satigny (Geneva). Largely oriented towards light industrial and logistics activities, Varia Swiss’ portfolio is further strengthened by this new acquisition and now consists of a total of eight assets located across French and German speaking Switzerland.
Asset Description
The asset is strategically located in the dynamic Meyrin/Satigny area (ZIMEYSA), nearby the Richemont and Firmenich campuses. Thanks to its proximity to the A1 motorway, distribution to the Canton of Vaud as well as to the rest of Switzerland can be achieved quickly and efficiently.
For Varia Swiss this acquisition is part of a short-term re-leasing strategy, to be followed by a redevelopment of the 11,000 m² plot. The land plot offers strong redevelopment and densification opportunities, for which a building permit will be requested shortly. Additionally, the industrial area of Meyrin, Satigny and Vernier plans to create 10,000 jobs by 2030 through the major development project ZIMEYSAVER.
The industrial and logistics sector is a fast-growing market
E-commerce, urbanisation, and digitalisation trends are strongly affecting the development of the logistics-industrial property market. COVID-19 has accelerated this phenomenon and consequently the demand for logistics space is increasing. Varia Swiss’ strategy proves to be consistent with this trend and keeps strengthening the company’s position in the logistics investment sector.