Pensimo builds 500 apartments on the ABB site in Zurich
The purchase of the building site directly next to Oerlikon station is a «rare investment opportunity», Pensimo announced. A high-rise building and commercial space are also to be built.
Two Pensimo real estate investment foundations are acquiring a central building site directly next to Zurich Oerlikon railroad station from the industrial company ABB. The new owner plans to build a development with around 500 apartments, including a high-rise building and commercial space, on the site.
Over the past 25 years, the Neu-Oerlikon district has been developed on the former industrial site to the north of the railroad station. The building site that has now been sold is located on the north side of the station, on the newly designed Max-Frisch-Platz. The buyers are the Turidomus and Pensimo investment foundations, both of which are managed by Pensimo Management.
«This is a very rare investment opportunity for a development project of this size in such a central location,» says Stefanie Krautzig, the responsible transaction manager at Pensimo. The site near the train station is one of the last large building land reserves in Neu-Oerlikon.
Start of construction in 2029 at the earliest
According to Stefanie Krautzig, the special building regulations for Neu-Oerlikon, which will be partially revised in 2022, form «a solid and proven planning basis». A competitive process is now to be launched among planning teams. According to her, construction cannot begin until 2029 at the earliest. Until then, the parking garage currently located on the site will continue to operate.
