Main tenant of Escher-Wyss site extends lease early
Ad hoc announcement pursuant to Art. 53 LR
Glattpark, 21 December 2021: Allreal and MAN Energy Solutions Schweiz AG have extended the leases for the office and commercial spaces at the Escher-Wyss site in Zürich-West for five years ahead of time. This means it will continue to be one of the largest industrial sites in the City of Zurich.
Allreal acquired the Escher-Wyss site in 2002 and MAN Energy Solutions Schweiz AG ("MAN") has been the main tenant at the plot in Zürich-West that covers 38,362 square metres in total and has around 87,000 square metres of floor space ever since.
It has now been confirmed that this long-term partnership between MAN and Allreal will continue, with the lease due to expire on 31 December 2023 already having been extended by five years to at least 31 December 2028 with no changes to the terms. The agreement covers around 32,000 square metres of commercial and storage space along with around 11,500 square metres of office space.
Hence, the Escher-Wyss site will remain the largest private industrial location in the city of Zurich.
According to the 2021 half-year report, MAN is one of Allreal’s five top tenants, accounting for 6% of the total rental income from commercial properties.
For further information, please contact:
Allreal Group Media Office
Tel. +41 44 319 15 53
Mobile +41 79 303 65 62
Allreal combines a stable-income property portfolio with the activities of a general contractor (development and realisation). The company’s property portfolio is worth over CHF 5.1 billion. During the 2021 financial year, the volume of projects completed by the Projects & Development division amounted to CHF 343 million. The property company employs more than 250 members of staff across Zurich, Basel, Bern and Geneva. With its registered office on Glattpark, Allreal operates exclusively in Switzerland. Shares in Allreal Holding AG are listed on the SIX Swiss Exchange.