UBS AST-KIS successfully reduces vacancies

Tenant insolvencies are a challenge that property owners must face. In 2021, UBS AST-KIS dealt with the bankruptcy of its former tenant, Legacy Pharmaceuticals Switzerland GmbH, which vacated around 20,000 m² of space at Rührbergstrasse 8 and 21 in Birsfelden (BL).

Despite this setback, vacancy reduction at this location has been progressing steadily. One of the first new tenants in 2022, a pharmaceutical company, is continuing to expand at Rührbergstrasse 21. In January 2026, the company will also occupy the eighth and top floor of the office and commercial tower, an attractive and prestigious office space currently being customized to the tenant’s specifications.

UBS AST-KIS is proud of the long-term rental contract, which extends until 2041, highlighting the tenant’s commitment to the location. The pharmaceutical company has also extended the existing contract for the office and laboratory space occupied in 2022 until 2041, with an exit option in 2036.

The site currently generates rental income of around CHF 2 million, compared to the income of CHF 2.4 million prior to the former tenant’s bankruptcy. Once fully leased, this is expected to increase to around CHF 3.1 million per year.

UBS AST-KIS has proven to be a reliable crisis manager and aims to generate higher returns for investors on a sustainable basis. Vacancies represent an opportunity to increase the investment group’s rental income in the long term, benefiting investors.

Birsfelden is a prime location for office and commercial space. The port of Birsfeld, located in the northeast of the municipality, offers access to the Rhine and the freeway. Basel city limits are about one kilometer away, as is the center of Birsfelden. Excellent public transportation options include a bus stop with direct connections to Birsfelden and Basel, as well as a train station about 200 meters away. The Rhine port and the motorway access are quickly reachable by private transport. The rental property stands out with affordable rental prices, versatile usage options, and flexible spaces that can be subdivided as needed.

The UBS AST Commercial Real Estate Switzerland investment group of UBS Investment Foundation 1 invests directly in real estate throughout Switzerland, focusing on commercial properties. New leases for the properties at Rührbergstrasse 8 and 21 in Birsfelden (BL) and the successful reduction in vacancies represent an opportunity for the investment group to generate more income sustainably. The project aligns with UBS AST-KIS’s investment objective of generating an attractive risk-adjusted return through active asset management.¹

¹Past performance is not a guarantee of future performance.

Only tax-exempt pension funds domiciled in Switzerland are admitted as direct investors in accordance with the investment foundation’s charter.