Varia Swiss Realtech Properties announces the acquisition of a new industrial asset in Gretzenbach, in the canton of Solothurn.
The building of about 5’200 m2 is located in Gretzenbach and was built in 1990. It is of high quality, is extremely flexible and functional and is located on a land plot with good access and direct connection to the city of Aarau.
The objective is to consolidate the rental situation by re-letting the space currently used by the main tenant, who occupies the entire first floor and will vacate it in September 2022.
Once the existing asset is stabilized, there is an opportunity to develop an industrial building of approximately 5,000 m² on the adjacent parcel. The development of this new building, which will take place in a second phase, will increase the leasable area to just over 10,000 m2.
With this acquisition, Varia Swiss is further expanding its presence in the German-speaking part of Switzerland in line with its announced strategy.
“We are very pleased to have been able to acquire this high-quality building. In addition, the building reserve on the land plot will allow us to double the rental space if necessary, putting this asset in the highly sought-after category of more than 10,000m2. I would also like to add that the fact that Varia Swiss already owns another asset in the vicinity, in Däniken, which would potentially allow us to leverage synergies between the two locations and their tenants” said Diana Oblak, Managing Director of Stoneweg Switzerland.
Dario Hubli, Head of Transactions at H&B Real Estate, is pleased with the transaction and the pragmatic approach taken by the parties to the deal. “It was a real pleasure to work with the teams of both parties on this transaction, the process was very smooth and relatively fast as the transaction was completed in less than 15 weeks.“