Andermatt Swiss Alps AG sells real estate bloc for CHF 50.5 million
May 16, 2018
Majority shareholder of the real estate company is WieInvest AG, a holding company of Urs Wietlisbach. The bloc comprises 25 properties.
The real estate bloc sold by Andermatt Swiss Alps AG (ASA) and Bellevue Hotel Apartment Development AG to Taurus Andermatt AG includes five penthouses in The Chedi Andermatt and 20 apartments in the buildings Biber, Gemse, Hirsch and Steinadler in Holiday Village Andermatt Reuss. Majority shareholder of the acquiring real estate company Taurus Andermatt AG is the Swiss entrepreneur Urs Wietlisbach; minority shareholders are Samih Sawiris and a second private person.
With the sale of the bloc, Andermatt Swiss Alps AG has managed to further accelerate real estate sales and to free funds for the further expansion of Holiday Village Andermatt Reuss. The apartments will remain in the rental pool of Andermatt Swiss Alps AG until the transaction is finalised. Andermatt Swiss Alps AG will participate in half of the sales profits which exceed the original list prices.
“Sales of holiday apartments generally increased strongly in the first quarter of 2018”, reports ASA CEO Franz-Xaver Simmen with satisfaction. Accordingly, sales prices will increase in the near future. “The participation of Urs Wietlisbach is a strong sign for Andermatt.” He expects long-term and continuous appreciation of real estate in Andermatt. Property One Investors AG, the investment management company of WieInvest AG, sees the increasing demand for the residential properties in the holiday village as the main reason for this appreciation. The modern hotel, ski and tourism infrastructure is generating growing interest amongst Swiss and international buyers.
Contact
Taurus Andermatt AG
vertreten durch Property One Investors AG
Kevin Hinder, Partner
Tel: +41 43 541 49 28
E-Mail: kevin.hinder@propertyone.ch
Factbox
Andermatt Swiss Alps AG
From vision to destination: During the past several years, Andermatt has developed into a popular year-round holiday resort with numerous attractive features: apartment buildings, hotels and chalets, a Scottish-style 18-hole golf course that offers golfers a welcome challenge, and the SkiArena, not only one of the most modern ski regions in Switzerland but also the largest in Central Switzerland, with pistes from Andermatt to Sedrun and Disentis. With its perfect blend of alpine simplicity and urban sophistication, the five-star deluxe hotel The Chedi Andermatt exudes a special magic, as does the Radisson Blu Hotel Reussen, with its public indoor pool and wellness-and-fitness area. More apartment buildings and hotels will be built in the forthcoming years.