Zurich: Airport takes over the Radisson Blu building
The hotel will be transferred to the airport operating company for CHF 155 million. The building lease for the property would not actually have expired until 2028.
Flughafen Zürich AG has taken full ownership of the Radisson Blu building at Zurich Airport by means of an early reversion. This is the last building within the central airport perimeter that was not owned by Flughafen Zürich AG. According to the airport, the use of the hotel and office building will remain unchanged following the change of ownership.
The seller is Al Maha Real Estate AG, and the purchase price is around CHF 155 million. The building in Kloten, which was constructed under building lease from 2005 to 2008, was originally subject to a building lease agreement until 2080. The building lease agreement was terminated in the course of the early reversion.
The building comprises twelve floors and is directly connected to a parking garage via a walkway on the eighth floor. The majority of the space is used by Radisson for hotel operations and as a meeting and conference center. The hotel rooms and lobby were modernized in 2023 and 2024. The rental agreement with Radisson Blu will continue unchanged with this takeover.
"Better planning capability"
The termination of the building rights contract and full ownership of the property opens up "development potential in the central airport perimeter" for Flughafen-AG, as the airport company writes in a press release. (aw)
