The property group SPS Swiss Prime Site is buying the headquarters of the testing and inspection group SGS in Geneva. The building is now to be remodelled and re-let.
SGS recently decided to relocate its headquarters from Geneva to Baar in the canton of Zug and has therefore sold the property, as SPS announced on Friday. SGS will move into an SPS building in Baar as the sole tenant from April 2025.
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The final move out of the office property on “Place des Alpes” in Geneva is expected to take place at the end of 2025. After moving out, SPS will reposition the property for several tenants, the statement continues.
The real estate group assumes that around 5,800 square metres will be available for around 300 employees from mid-2026 following renovation work. Initial preliminary talks have already been held and interest is high. Swiss Prime Site anticipates potential rental income of around CHF3.5 million per year.
The largest listed Swiss property group increased its capital by CHF 300 million at the end of February with a share placement and announced at the time that the money would be used for planned acquisitions. According to SPS, this was the first step.
Adapted from German by DeepL/ac
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