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UBS "Swissreal" investing CHF 55m in Renens

UBS (CH) Property Fund - Swiss Commercial "Swissreal" is constructing the Swiss headquarters of mobile phone provider Orange and one of German food discounter Lidl's first outlets in Switzerland.

UBS “Swissreal” investing CHF 55m in Renens
Model photo of the "Plan Léman-ORANGE" project in Renens, canton of Vaud

Some 600 jobs are to be based on the new site in the immediate vicinity of the railway station in Renens, with a rentable area of 12,000 m2. Occupancy is planned for late 2008. Fully indexed 10-year leases with an option of a further 10-year extension have been concluded with the two companies mentioned, which are renting around 75% of the available area. There is considerable interest in the remaining free areas, and we therefore expect that the property will be fully let upon completion.