Zurich: Swiss Life reports full occupancy of Brannhof
The former Manor department store on Bahnhofstrasse in Zurich, which Swiss Life is currently refurbishing and converting, is now fully let - six months before the planned opening.
Renovation work on the Bahnhofstrasse 75 and 79 properties in Zurich has been underway for two years. Users have now been found for all retail and office space, according to Swiss Life Asset Managers. The retail space comprises around 4,600 sqm over three levels up to the second floor, while modern workplaces are being created on around 5,600 sqm on the second to fifth floors.
Among others, Teuscher and Café Felix will move into the Brannhof, and the fashion chain Massimo Dutti and the cosmetics brand Lush are among the tenants. General Motors will also be represented at Brannhof, as part of the company's retail strategy for electric vehicles. Japanese insurance group Sompo International has been secured as one of the two office tenants. It will occupy the second floor. The names of other tenants will be announced "in due course," Swiss Life Asset Managers said.
"We are very pleased that the Brannhof is already fully leased more than half a year before the planned opening," says Giorgio Engeli, Head Real Estate Portfolio Management Switzerland at Swiss Life Asset Managers. "The high demand reinforces our future-oriented utilization concept, and we are convinced that the new tenants will enliven the building on all four sides and enrich the city center."
The basic fit-out of the retail space from the first basement to the second floor has been completed, according to Swiss Life Asset Managers. Most of the new tenants took over the space at the beginning of March, and initial tenant fit-out work has already begun. The retail spaces are scheduled to open gradually from October. Construction work on the floors and chilled ceilings is still underway on the office floors. The space is scheduled to be handed over to tenants for further fit-out at the end of June. The first workplaces are expected to be occupied in early 2024.
Swiss Life is investing a total of over CHF 100 million in the refurbishment and revitalization of the two historic properties on Bahnhofstrasse. Construction will take a total of around three years. (ah)
