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Central Real Estate acquires Klybeck site from Novartis

Central Real Estate takes over a development site in Basel-Stadt and thus becomes one of the largest real estate investors in the city.
The newly founded real estate company Central Real Estate suddenly came into the limelight in May. It is taking over a 160,000 m2 development site in the Klybeck quarter of Basel City from Novartis, making it one of the largest real estate investors in the city.

In the Klybeck quarter, Ciba, one of the predecessor companies of Novartis, once started operations directly on the Rhine. In the future, Novartis will no longer need the space and will relocate its approximately 2,000 laboratory and workstations to the Novartis headquarters on the other side of the Rhine. In total, an area of 280,000 m2 , previously used mainly by the chemical industry, will be transformed into a new lively and mixed quarter.

Central Real Estate has purchased the Klybeck area from Novartis, which has an area of approximately 160'000 m2 . Central Real Estate, a real estate company founded in May for this purpose, will develop a new district in Basel over the next few decades in conjunction with the Canton of Basel-Stadt and the land owner of the remaining 120,000 m2 . The urban development planning process has already been launched in 2016 with the involvement of the public in the project.

Communicators is the external communications office of Central Real Estate and advises the consortium behind the real estate company, consisting of Mettler2Invest, Nova Property Fund Management and Credit Suisse Asset Management.

Published on 01. July 2019