Contact

Menu

Article

Area development in Bern West

A promising area development plan will soon be implemented in the western section of Bern. This will greatly increase property values, benefiting all relevant interest groups.

July 8, 2022

Photo: It all begins in 2024: The building housing Galenica's headquarters is being completely remodeled. The company will move to a temporary location for the duration of the renovation.

Major changes lie ahead for the Weyermannshaus section of Bern. A lively, diverse neighborhood will take shape over the coming years. In December 2021, Credit Suisse Real Estate Fund Green Property purchased a property on Untermattweg in this up-and-coming area. More than half a century has passed since the building was erected in 1967 and 1968. Since then it has served as the headquarters of its former owner, the internationally active healthcare service provider Galenica. Now 54 years old, the property no longer meets the latest building standards. To bring it into compliance, the structure is to be completely renovated.

Modernizing this eight-story building is expected to take three years, starting in 2024. A particular concern is the building's ongoing operations, which will continue as the renovation is under way. An appropriate solution to this challenge has already been found: For the duration of the renovation, a temporary location will be made available to the Galenica company, formerly the building's owner and now a tenant.

A focus on increasing value

The area development plan provides for the renovation of the existing office building and the construction of an attractive new residential structure. Care will be taken to integrate the new complex as seamlessly as possible into the changing neighborhood. In that context, particular attention will be paid to the needs of all relevant interest groups, since one of the primary objectives of the projected area development is to ensure the satisfaction of tenants, local residents, and other stakeholders – as well as to increase the property's value, economically, environmentally, and functionally.

The extensive experience of the experts at Credit Suisse Real Estate will be helpful in achieving these goals, a view that is echoed by former owner Galenica. Galenica has underscored its commitment to this location; as a tenant, it intends to remain there for the long term.

The office is dead. Long live the office.

Despite all of the benefits of working from home, many people are happy at the prospect of being able to return to the office. However, innovative working environments are needed to ensure that this positive attitude persists in the long run. The office must become a place where people feel comfortable and where working is fun.

Get in touch

Contact us for information about investment opportunities and to find out how we can help you achieve your investment goals.

This material constitutes marketing material of Credit Suisse Group AG and/or its affiliates (hereafter "CS") and provides information on a strategy. This material does not constitute or form part of an offer or invitation to issue or sell, or of a solicitation of an offer to subscribe or buy, any securities or other financial instruments, or enter into any other financial transaction, nor does it constitute an inducement or incitement to participate in any product, offering or investment. This marketing material is not a contractually binding document or an information document required by any legislative provision. Nothing in this material constitutes investment research or investment advice and may not be relied upon. It is not tailored to your individual circumstances, or otherwise constitutes a personal recommendation, and is not sufficient to take an investment decision. The information and views expressed herein are those of CS at the time of writing and are subject to change at any time without notice. They are derived from sources believed to be reliable. CS provides no guarantee with regard to the content and completeness of the information and where legally possible does not accept any liability for losses that might arise from making use of the information. If nothing is indicated to the contrary, all figures are unaudited. The information provided herein is for the exclusive use of the recipient. The information provided in this material may change after the date of this material without notice and CS has no obligation to update the information. This material may contain information that is licensed and/or protected under intellectual property rights of the licensors and property right holders. Nothing in this material shall be construed to impose any liability on the licensors or property right holders. Unauthorised copying of the information of the licensors or property right holders is strictly prohibited. This material may not be forwarded or distributed to any other person and may not be reproduced. Any forwarding, distribution or reproduction is unauthorized and may result in a violation of the U.S. Securities Act of 1933, as amended (the “Securities Act”). In addition, there may be conflicts of interest with regards to the investment. In connection with the provision of services, Credit Suisse AG and/or its affiliates may pay third parties or receive from third parties, as part of their fee or otherwise, a one-time or recurring fee (e.g., issuing commissions, placement commissions or trailer fees). Prospective investors should independently and carefully assess (with their tax, legal and financial advisers) the specific risks described in available materials, and applicable legal, regulatory, credit, tax and accounting consequences prior to making any investment decision. 

Copyright © 2022 CREDIT SUISSE GROUP AG and/or its affiliates. All rights reserved.