Intershop acquires World Trade Center in Lausanne
Intershop acquired the office complex World Trade Center Lausanne yesterday, with retroactive effect as of 1 December 2016. The attractive ensemble of five buildings is situated in the immediate vicinity of the airport Lausanne-Blécherette and not far from the feeder road to the A9 motorway. Thanks to its more than 600 car parking spaces and direct bus link to Lausanne station the complex is extremely well connected, both for private and public transport.
Rental income from the almost fully let property comes to CHF 6.5 million and comes from several dozen tenants. Additional rental income of around CHF 0.8 million is generated by letting fully furnished offices and conference rooms. The quality of the rooms and the all-round services are in line with the usual high standards of the World Trade Center® brand. The purchase price, including transaction costs, amounted to some CHF 105.5 million.
Also acquired was the on-site company WTCL Services SA, which has eleven employees and is responsible for letting, administration, facility management and services, so ensuring the high quality of the WTC.
With this acquisition Intershop is increasing its rental income substantially and at the same time increasing the share of its investments in the attractive canton of Vaud.
Intershop is a real estate company listed on the SIX Swiss Exchange and active in Switzerland, which primarily invests in commercial properties. As of 30/06/2016 its portfolio comprised 59 properties with a lettable area of 584,000 m2 and a market value of some 1.3 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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