Swiss Prime Site acquires iconic office property at «Place des Alpes» in the centre of Geneva

PRESS RELEASE

Zug, 4. April 2025

• Transaction as part of SGS's strategic move from Geneva to Baar and signing of a ten-year lease as single tenant of a Swiss Prime Site property
• Estimated future rental income of around CHF 3.5 million per year with an implied yield of 4.4% after the repositioning of the property in Geneva. Discussions with prospective tenants are ongoing
• Transaction represents the first step in realising the current acquisition pipeline with total rental income of more than CHF 17 million after the capital increase in February 2025

Swiss Prime Site is acquiring an iconic office property in a prime location at «Place des Alpes» in Geneva. The very centrally located property, within five-minute walking distance from the main train station and offering an unobstructable lake view, consists of a historic old building with modern fit-out standards and a newer extension built in 2001.

The property currently serves as the headquarters of SGS, the world's leading testing, inspection and certification company, which is also the seller. SGS is selling the building as part of its relocation from Geneva to Baar (Zug), where it will move into Swiss Prime Site’s «BLU BAAR» building as a single tenant - a new, ten-year lease as of April 2025 was agreed in parallel to the purchase. SGS will remain in the building in Geneva as the sole tenant until it moves out, which is expected to be at the end of 2025. Swiss Prime Site was able to prevail in the transaction process due to, among other things, the strategically oriented partnership with the attractive new letting space in Baar.

For the acquired property in Geneva, a repositioning as a multi-tenant building is planned, in order to optimally re-let the space in the sought-after «Rive Droite» business district. The building has several entrance options and, with its division into a new and old building, is ideally suited for multiple tenants in a prestigious location in Geneva. Swiss Prime Site expects that, after brief conversion works, particularly for the building services and tenant fit-out, around 5,800 m² of high-quality space for around 300 employees will be available from mid-2026. Initial pre-letting conversations with strong indications of interest from renowned tenants have already taken place. Swiss Prime Site expects rental income of around CHF 3.5 million per year, which corresponds to a gross yield after the conversion of around 4.4%.

In addition to its location and quality, the property captivates with very high sustainability standards: the building is already operated in a CO2-neutral manner using a heating and cooling system based on a heat pump with lake water connection. A BREEAM certification is planned for 2025.

René Zahnd, CEO of Swiss Prime Site, says: «The acquisition of this property in a highly central location in Geneva fits perfectly into our portfolio, which is geared towards modern and centrally located properties. We are delighted to welcome SGS as a new tenant at the same time, which emphasises the attractiveness of our portfolio for large and successful companies. This transaction marks the first step in realising our announced acquisition pipeline of more than CHF 17 million of annual rental income by the beginning of 2026.»

If you have any questions, please contact:
 
Florian Hauber
Tel. +41 58 317 17 64, florian.hauber@sps.swiss

 
Web links: Press release