Thanks to the recent capital increase, Residentia is pleased to announce the purchase of an important historic-industrial building in the central area of Lugano.
The building, located in Besso and built at the end of the 19th century as a chocolate factory for the Tobler company, is architecturally unique in Lugano. It is, in fact, one the few urban industrial buildings that is still standing in our region with more than 3000m2 of commercial/workshop space. Its vicinity to the station and motorway access makes it a particularly interesting property. In view of its architectural qualities, the building is protected both historically and culturally. The Residentia Fund, fully grasping the unexpressed potential of the property, decided to purchase it for CHF 7.55 million with the aim of launching a renovation and enhancement project that will exploit it to the full in line with current standards. The work, which ought to start at the beginning of 2018, envisages an initial investment of approx. CHF 4 million to bring the building envelope and all the technical equipment up to standard. Subsequently, an assessment will be made of the personalisation of the spaces with the respective tenants in order to offer them the most appropriate solutions for the various purposes to which the building is suited. Once the work is complete the potential income of the building ought to stand at over CHF 600,000 per annum , thus guaranteeing a profitability of approx. 5%.