Stoneweg has acquired a 48,000m² logistics asset in the canton of Solothurn, in northern Switzerland, in a sale and leaseback transaction from Meier Tobler Group AG, the Swiss listed building technology company, on behalf of its Varia Swiss Realtech strategy.
The three-storey logistics centre has flexible usage capabilities and was formerly used as the main distribution centre for the Swiss postal service. Meier Tobler has fully let the site until December 2023, after which Stoneweg will undertake extensive renovation works before re-leasing to a new single tenant or multiple tenants, maximising the income potential of the real estate. The asset is situated in a prime location for logistics in the triangle between Bern, Zürich, and Basel, only 15 minutes away from intersections for the A1 and A2 motorways and close to the borders of France and Germany.
Diana Oblak, Head of Swiss Investments at Stoneweg said: “This acquisition presented an excellent opportunity for us to acquire a high quality, flexible asset in a prime location between three major cities as we look to expand and strengthen our footprint in the Swiss-German region of Switzerland. Alongside our partners at Decalia, we will look to undertake a significant programme of active asset management to further drive both income and capital value on behalf of our investors, once the current tenant vacates the property in 2023. The logistics sector remains highly attractive, having been largely sheltered from the challenges other sectors have faced during the COVID-19 pandemic, with demand for real estate that synergises with the digital economy continuing to thrive.”