Swiss Prime Site Secures Building Permits and Streamlines Portfolio

Swiss Prime Site has announced the acquisition of enforceable building permits for its redevelopment projects in Zurich. These include the Jelmoli building near Bahnhofstrasse and the new «YOND Campus» in Zurich-Albisrieden. The Jelmoli project aims to modernize the iconic building for contemporary retail and office use, targeting completion by 2027. It has already secured a lease agreement with Manor, covering 13,000 m² of space.

The «YOND Campus» will expand with two new buildings offering 35,000 m². It aims to host service and manufacturing companies. The company anticipates a pre-letting rate of 50% by 2025. This aligns with Swiss Prime Site's focus on developing prime urban properties.

In line with its portfolio strategy, Swiss Prime Site expects to achieve sales proceeds between CHF 275 and 300 million through property sales by year-end. This strategic streamlining, known as 'capital recycling,' enables investment in core projects.