The Residentia team is pleased to announce the exercising of the right of purchase for the property located on Via Carona 6 in Lugano. The exercising of this right finalises the sale of Villa Zappia, a transaction that was initiated in January 2015 and extended to the present date pending the approval for a building project for a new mixed-use residential building to be built by the new owners.
The transaction concludes with the payment of the remaining CHF 2,365,000, which, added to the same amount already paid as forfeit money, brings the selling price to a total of CHF 4,730,000.00, as agreed. This price is also in line with the book value of the property.
This sale fits perfectly within our repositioning strategy for high-return predominantly residential buildings, which also offer significant economies of scale during the management phase due to their size.