APG|SGA sells Basel property
APG|SGA has sold the property at Hardstrasse 43 in Basel. The sale is expected to have an impact of CHF 18 million on the net result.
Due to urban development, the company's commercial property at Hardstrasse 43 in Basel is increasingly located in a sought-after residential area and is therefore suboptimal for the operational business, according to the statement. For this reason, APG|SGA decided at the beginning of the year to sell this property within the framework of a bidding process and was thus able to arouse great interest among potential buyers.
This sales process has now been completed with the conclusion of a sales agreement for the property. The transfer is scheduled for June 30, 2016. The sale is expected to have a positive impact on the net result of APG|SGA in the order of approximately CHF 18 million. This amount consists of the sales price less book value and taxes and transaction expenses. For the time being, all units of APG|SGA Basel will remain rented at Hardstrasse.
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