Winterthur: Abendrot Buys Site for 200 Apartments
The Basel Pension Fund is acquiring a 31,000-square-meter plot of land in Neuhegi with a legally binding development plan. It estimates the investment volume at over 200 million CHF.
With the notarization, the Abendrot Foundation has finalized the purchase of the «Wohn Werk Raum Hegi» development site in Winterthur (ZH). In a press release, the Basel Pension Fund described the acquisition as the largest real estate transaction in its history. It did not disclose the purchase price or the identity of the seller. The site is held as sole property, and the foundation estimates the investment volume at over 200 million CHF.
The property, located in the Neuhegi urban development area in the eastern part of the city, measures approximately 31,000 square meters. A legally binding design plan is already in place. The plans call for approximately 200 apartments as well as commercial, studio, service, and communal spaces; Abendrot has not provided details on floor area, usage ratios, or rental rates. The foundation specifies “wood-based construction” as the building method. According to the announcement, project development will begin in 2026, with construction expected to proceed in phases until approximately 2033–2035.
Second Site in Winterthur
According to Abendrot, the company was awarded the contract in a bidding process in which, in addition to financial capacity, its track record in developing mixed-use neighborhoods was a decisive factor. A key reference project is the Lagerplatz on the former Sulzer industrial site near the train station, which has been part of the portfolio since 2009 and today houses commercial, educational, cultural, recreational, and service facilities. There, the foundation completed the final development phase—for now—in May with Hall 181.2/3. (IB reported).
The pension fund has not specified any return targets for the new site. According to the press release, the focus is «not on short-term returns.».
