Swiss Prime Site AG / Key word(s): Real Estate/ESG
Swiss Prime Site (SPS): construction to begin on «BERN 131» development project
03.11.2022 / 06:55 CET/CEST
Zug, 3 November 2022
A landmark project in terms of sustainability in the north of Bern
Yesterday the partners in «BERN 131» marked the start of construction on the development project. The ceremonial event in the north of Bern featured presentations from Pascal Bärtschi, CEO Losinger Marazzi, and René Zahnd, CEO Swiss Prime Site, in the presence of the Mayor of Bern, Alec von Graffenried. The project, with an official building permit, was developed as a commercial and service building by Losinger Marazzi and acquired by Swiss Prime Site in mid-July 2022. Pascal Bärtschi, CEO Losinger Marazzi: «With this project we have succeeded in developing a new landmark for Bern in terms of sustainability and urban renewal.» René Zahnd, CEO of Swiss Prime Site: «BERN 131 offers a compelling, sustainable construction concept, diverse spatial options and the ideal location for the intended types of use. So it is an ideal fit for our portfolio strategy for a number of reasons.» Located in the heart of the transport hub Wankdorf, the building has a floor space of 13 900 m2 and is expected to be ready to welcome tenants in early 2025.
Successful capital recycling and increased sustainability
This project represents another successful step in Swiss Prime Site’s strategy of capital recycling, which was launched in 2021. Under the strategy, properties that no longer suit the portfolio are sold, with the proceeds channelled into the acquisition of attractive development projects like «BERN 131». This means the company can finance its own project pipeline without increasing debt or equity. For the 2022 financial year, Swiss Prime Site expects to achieve a balanced rate of acquisition and sales transactions in the value of around CHF 290 million. Another key reason for purchasing the development project in the Swiss capital was the sustainability element. The iconic building complex, with its distinctive curved triangle form, will be an energy-plus building, making it a model project in the field of sustainability. Wood will be used for the structure of the building while the roof and façade balustrades will be fitted with photovoltaic modules. The deconstruction of the existing logistics warehouse is also an excellent example of circular economy. With the cooperative support of Swiss Prime Site, Losinger Marazzi plans to dismantle the steel construction and reuse a large part of it in the Bern region. This saves emissions, resources and reduces energy use. Swiss Prime Site is aiming to achieve SNBS Gold certification for «BERN 131».
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Web links: BERN 131
End of Media Release