Local Buyer Backs out of Credit Suisse Zurich Campus Purchase –

A landmark constructing in Uetlihof in Zurich housing hundreds of Credit rating Suisse staff is On the market, however An space buyr has backed out.

The metropolis of Zurich was prohibited from offering To buy the Credit rating Suisse Uetlihof campus in Zurich after the metropolis’s parliament sureterday narrowly rejected a 1.5  invoiceion Swiss franc mortgage for The acquisition of the Uetlihof by 61 to 57 sure votes, as reported by the «NZZ» (behind paywall, in German).

Norwegian Wealth Fund

As reported in February, the Norwegian sovereign wealth fund NBIM, which has owned the constructing for ten years, Desires to promote. NBIM commissioned the Swiss department of U.S. exact property specialist CBRE to conduct a bidding course of, Collectively with SPGI Zurich. NBIM is reported to be asking 1.3 invoiceion Swiss francs for the office property which is 30 % Greater than The acquisition worth.

For opponents of the invoice, the Uetlihof is a extreme-hazard property That is too costly. There have been furtherly remoted voices in parliament that as a Outcome of Credit rating Suisse is The one tenant Inside the constructing, it might drop out Because of its myriad enterprise factors.

Extra than 8,000 Credit rating Suisse staff go about their work every day On the Uetlihof campus, and the financial institution is contracted to lease the property till 2037 with an Selection to enhance For An further 15. Based mostly on media reviews, the metropolis council was primarily …….


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