Real Estate Switzerland Intelligent solutions for Real Estate and Real Estate products.
The "Domino" construction project is an enhancement with potential for UBS (CH) Property Fund - Swiss Commercial "Swissreal", which invests in commercial properties throughout Switzerland and pursues a growth strategy. The Wankdorf location, which is very close to the stadium of the same name, has been designated as a focus for development in the city of Berne by the cantonal planning authorities and is to undergo further development for business, educational, sporting and residential usage. With local trains, trams and a nearby motorway junction, the transport connections are excellent.
"Domino" comprises two buildings (see illustration) and is to be completed during 2008 following a construction period of around two years. The building on the left with usable space of some 14,300m2 will be used as a centre for initial and adult education, while the building on the right, with usable space of approximately 8'000m2, will be used for healthcare training programmes. The majority of the rentable areas have been let to Feusi Bildungszentrum AG, and long-term tenancy agreements have been concluded. The Feusi educational centre is the largest private school in Switzerland and has been involved in various areas of education and training for over 50 years. The investment costs for the "Domino" project are estimated to be in the region of CHF 70 million.
Once again, cooperation across business areas between UBS Berne as the intermediary and UBS Global Asset Management Real Estate Funds as the investor has proved its worth. We would like to thank our colleagues for their outstanding work.