- Press releases
- Mobimo invests CHF 65 million in the construction of low-cost apartments and a retirement and care centre in Affoltern am Albis
Lucerne, 10 February 2011 – Mobimo Holding AG ('Mobimo') has acquired from Hess Investment AG, Amriswil ('Hess') two sites in the north-west section of the OVA company site in Affoltern am Albis. Hess has owned this former industrial site for a number of years and has drawn up a development project for this area located close to the station. A legally valid design plan has been in place since mid-2010. Mobimo will now build on a section of the site, while Hess will carry out further development work on the remaining area.
The property is in a prime location, conveniently situated with excellent transport links. It is two minutes’ walk from the train station and the A4 motorway junction is only 500 metres away.
Mobimo plans to build five to six apartment units, offering low-cost apartments for families, couples, singles and pensioners, on the first plot of land with a surface area of 8,842m2 (site I of the design plan). The managed retirement apartments will be able to benefit from the range of services available from the neighbouring care centre. A new retirement and care centre with capacity for up to 120 guests is to be built on a second plot of 3,159m2 (site II) by arrangement with the municipality of Affoltern am Albis. Mobimo intends to conclude a long-term rental agreement with Senevita AG, a professional operator of similar retirement care homes in Switzerland. Further rental space for additional services (hairdresser, cosmetics, chiropody and other healthcare services) are also earmarked for the ground floor.
The project planning work for both sites has been underway since the end of 2010. The building application for the residential properties should be submitted in the first half of 2011, and that for the retirement and care centre will also be drawn up as soon as possible. The exterior design features including common areas and small meeting points and an underground garage are being drawn up together with Hess, which is also developing a Holiday Inn Express Hotel (due to open in 2013) and commercial space on the two remaining sites of the OVA area. The total investment planned by Mobimo is around CHF 65 million.
For enquiries please contact:
Mobimo Management AG
Head of Development
Member of the Executive Board
044 397 11 58
Hess Investment Gruppe
071 414 05 05
Mobimo Holding AG was established in 1999 in Lucerne and has been listed on the SIX Swiss Exchange since 2005. The Mobimo Group has an attractive portfolio mix of investment properties providing stable income and development properties offering extensive value enhancement potential. Investments are focused mainly on promising locations in the business centres of Zurich, Lucerne/Zug, Basel, St. Gallen and Lausanne/Geneva. With a property portfolio that has an overall value of around CHF 2.0 bn, Mobimo is one of the leading real-estate companies in Switzerland. The portfolio contains development properties with an investment volume of around CHF 0.7 bn (as at 30 June 2010).