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    SPSN   CH0008038389

SWISS PRIME SITE AG

(SPSN)
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Swiss Prime Site : Immobilien to develop Google's new Zurich office

06/01/2021 | 01:14am EDT
Swiss Prime Site Immobilien to develop Google's new Zurich office share

PRESS RELEASE

Olten, 1 June 2021

  • Google Switzerland becomes from 2023 new single tenant at Müllerstrasse 16/20
  • Success through circular economy and sustainability

Google Switzerland becomes from 2023 new single tenant at Müllerstrasse 16/20
In 2018, Swiss Prime Site Immobilien purchased the office building on Müllerstrasse 16/20 in Zurich from a Credit Suisse Asset Management property fund as part of a swap deal. In exchange for the stake in the «Sihlcity» urban entertainment centre, the attractive property was transferred to the Swiss Prime Site Immobilien portfolio in a package with two further properties. The rental agreement with the current long-term tenant expires in summer 2021 and is not being renewed. With Google Switzerland, Swiss Prime Site Immobilien has found a new single tenant for Müllerstrasse 16/20. Martin Kaleja, CEO Swiss Prime Site Immobilien, said: «In recent years, Switzerland and Zurich in particular have developed greatly in the field of internet technology to become a true European hub. We are delighted that we have managed to convince Google, one of the industry's driving forces, with the quality of the property's location.» Lucas Stolwijk, EMEA Regional Workplace Services Manager at Google Switzerland, added: «The property's central location and its proximity to our other sites in Zurich, were the winning arguments for us and our employees. We were also impressed by Swiss Prime Site Immobilien's concept for ensuring that the building will be state-of-the-art and meet the highest standards in terms of sustainability. We are looking forward to investing further in Zurich and to strengthening our cooperation with local partners in the domestic innovation ecosystem.»

Success through circular economy and sustainability
The building was constructed in 1980 and has a rentable floorspace of around 15 000 m2. Close to the Stauffacher and within walking distance of Zurich's main station, the property has optimum public transport links (tram, S-Bahn). The property will be renovated inside and out, which will include complete dismantling down to the bearing structure, as well as refurbishment of the façade, the roof and all the building services. Müllerstrasse 16/20 will become a flagship project for sustainable, modern construction and will be SNBS-certified following its completion by the end of 2023. Swiss Prime Site Immobilien will carry out the transformation of the property entirely in the spirit of integrated sustainability and the circular economy. For example, all dismantled materials will be catalogued and reused where possible. As well as reducing transportation, this is resource- and carbon-friendly, and will preserve the building's existing identity within the city. Martin Kaleja, CEO Swiss Prime Site Immobilien, added: «Sustainability is an integral part of Swiss Prime Site Immobilien's business model. We are committed to utilising environment-friendly technologies, renewable energy and sustainability-relevant concepts. With Google Switzerland, we are delighted to have found a like-minded partner who will give us the opportunity to bring our experience of sustainable buildings into the property at Müllerstrasse 16/20.»

If you have any questions, please contact:

Mladen Tomic, Media Relations
Tel. +41 58 317 17 42, mladen.tomic@sps.swiss

Martin Kaleja, CEO Swiss Prime Site Immobilien
Tel. +41 58 317 17 30, martin.kaleja@sps.swiss



Disclaimer

Swiss Prime Site AG published this content on 01 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 June 2021 05:13:02 UTC.


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Sales 2021 856 M 923 M 923 M
Net income 2021 427 M 460 M 460 M
Net Debt 2021 5 162 M 5 565 M 5 565 M
P/E ratio 2021 16,7x
Yield 2021 3,58%
Capitalization 7 054 M 7 623 M 7 605 M
EV / Sales 2021 14,3x
EV / Sales 2022 15,1x
Nbr of Employees 1 455
Free-Float 99,8%
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RenÚ Zahnd Chief Executive Officer
Markus Meier Chief Financial Officer
Ton BŘchner Chairman-Supervisory Board
Christopher Michael Chambers Member-Supervisory Board
Mario F. Seris Vice Chairman-Supervisory Board