«AuPark» in Au-Wädenswil has been chosen as the location for the proposed new secondary school («Mittelschule») on south bank of the Lake of Zurich
The Canton of Zurich has informed Intershop that at its meeting of 8th November last, the Government Council approved the acquisition of a plot of land amounting to 10'880 sqm within the «AuPark» site (formerly known as «AuCenter-Areal»). This acquisition by the Canton of Zurich is made in view of the possible establishment of a secondary school («Mittelschule») on south bank of the Lake of Zurich.
The «AuPark» is a development site belonging to the Intershop Group which is currently subject to the formalising of a private zoning and development plan («Privater Gestaltungsplan»). In addition to the secondary school, Intershop intends to construct some 200 apartments as well as additional shopping facilities for the neighbourhood of Au. In the heart of the site, a generous public park will be built which will form an attractive meeting place for the inhabitants of Au.
Intershop has signed a conditional sale and purchase agreement with the Canton of Zurich. The agreed purchase price amounts to CHF 19.8 million. The sale and purchase agreement is subject to the decision by the cantonal parliament to establish a secondary school in the Au-Wädenswil region, as well as the legally binding completion of the new zoning and development plan for the «AuPark» site. The decision of the cantonal parliament is expected during 2018, with the completion of the zoning and development plan anticipated in 2019.
Intershop is a real estate company listed on the SIX Swiss Exchange and active in Switzerland, which invests principally in commercial properties. As per 30/06/2017 its portfolio comprised 57 properties with a lettable area of 590,000 m2 and a market value of some 1.4 billion Swiss francs. Intershop invests mainly in the Zurich area, around Lac Leman and along the main traffic arteries. Its portfolio combines high yields with security, thanks to diversification by geography and type of use, with considerable potential for value appreciation in the properties with development potential.
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