Bd du Théâtre 8-10, Geneva
2021
Making capital gains by investing in downtown Geneva is possible!
End of 2017, SPGI is mandated by EFG International to sell a prestigious vacant administrative building of 2'700 sqm in the iconic Quartier des Banques.
For the buyer the building is a unique opportunity since it’s located in the city center, high-quality and entirely renovated.
To reassure investors that are faced with an empty commercial building, the Tenant and Landlord Representation department is immediately integrated into the sales process.
An in-depth market study is conducted to qualify and quantify the demand in order to set up a development strategy.
Confident in the implementation of a promising marketing strategy, Generali acquired the building in 2018, mandating SPGI to lease the office spaces in the building.
SPGI’s mandate also covered the ground floor premises which, according to the city's land use plan, had to be occupied by businesses open to the public.
The solution
Our mission began with putting together a strategy to sell the building.
An in-depth analysis of its technical characteristics, its perimeter and its rental status was conducted.
The sale process was carefully monitored by the Investment team, led by Sandra Claudia Andres - Commercial Director, with the support of Henri-François Petit Head of the Landlord and Tenant Representation department. Henri-François joined the visits and conducted several analyses of the leasing potential to maximize the rental value of the property.
After the acquisition of the building, Generali mandated SPGI to lease the entire vacant building.
Henri-François Petit thus pursued the rental strategy put in place at the time of the sale and implemented an adapted communication plan to approach potential tenants.
Given the quality of the building, SPGI opted for an "anchor tenant" strategy for the administrative areas.
Transformed into a multi-tenant building, the ground floor underwent extensive segregation works and technical updates. Henceforth the premises was leased in a second phase by Virginia Panetti, newly in charge of developing the retail sector. This strategy allowed for in an optimal synergy between commercial and administrative tenant’s within the building.
The result
Right after the sale, between 2018 and 2019, SPGI leased most of the office space to one of the major players in the banking sector. At the end of 2019, a second tenant completed the "tenant mix" in the upper floors.
Q4 2021, upon completion of the segregation work and technical updates of the ground floors, the premises are marketed.
A real estate agency specializing in the sale of prestigious properties and a bar/restaurant found their place at the foot of the building, thus making of Generali's assets 100% secure and bringing dynamism and life to the neighborhood.
Generali now owns a building whose development is fully assured.
Marketing rents were maintained, and the rental value maximized, resulting a capital gain for Generali, thanks to the added value provided by the entire SPGI team.
