Zug Estates Holding AG / Key word(s): Real Estate
Zug Estates acquires Renggli Holding AG
02-Nov-2022 / 17:51 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 LR
The issuer is solely responsible for the content of this announcement.
Ad hoc announcement pursuant to article 53 Listing Rules Zug, 2 November 2022
Retroactively with effect on 1 October 2022, Zug Estates Holding AG is acquiring 100% of the shares of Renggli Holding AG, domiciled in Zug, which owns 12 properties in the Zug and Rotkreuz area.
The acquired real estate portfolio, with a residential property share of nearly 50% and value of around CHF 110 million, includes a business property in Zug as well as a 19,000 m² development site with residential and commercial properties in Rotkreuz that is directly adjacent to the Suurstoffi site. Annual rental income amounts to more than CHF 2.6 million and the vacancy rate on 30 September 2022 was at around 0.2%.
Patrik Stillhart, CEO of Zug Estates Holding AG, is thrilled about this acquisition and explains: “The properties of Renggli Holding AG perfectly supplement our portfolio, which focuses on central, well-connected locations in the Canton of Zug. The site we acquired in Rotkreuz, in particular, has attractive development potential.”
Downloads:
Press release (PDF)
Important dates:
24 February 2023
6 April 2023
25 August 2023
Publication of Annual Report 2022
Ordinary General Meeting
Publication of Half-Year Report 2023
For further information, please contact:
Patrik Stillhart, CEO
T +41 41 729 10 10, ir@zugestates.ch
About Zug Estates
The Zug Estates Group conceives, develops, markets and manages properties in the Zug region. It focuses on central sites which are suitable for a wide range of uses and allow sustainable development. The real estate portfolio comprises the two sites in Zug and Risch Rotkreuz. The Group also runs a city resort in Zug incorporating the two leading business hotels Parkhotel Zug and City Garden and a comprehensive range of restaurants. The total value of the portfolio came to CHF 1.71 billion as at 30 June 2022. Zug Estates Holding AG is listed on the SIX Swiss Exchange, Zurich, (ticker symbol: ZUGN; securities number: 14 805 212).
Zug Estates Holding AG | Industriestrasse 12 | CH-6300 Zug | T +41 41 729 10 10 | www.zugestates.ch
Zug Estates Holding AG is a Switzerland-based company engaged in the development, sale and management of real estate properties in the Zug region, Switzerland. It is also the holding company of the Zug Estates Group, which comprised wholly owned subsidiaries Zug Estates AG, ZEW Immobilien AG and Hotelbusiness Zug AG. The Company invests in numerous properties, as well as three investment properties under construction and one undeveloped plot. Through Hotelbusiness Zug AG, the Company operates a city resort that consists of two business hotels Parkhotel Zug and City Garden, as well as serviced city apartments geared towards business clients with a total offering of approximately 250 overnight units and a range of restaurants. The Company's real estate portfolio consists of residential, office and retail space in the mid to upper segment of the real estate market.