PROCIMMO acquires Stewo site in the canton of Lucerne
Werthenstein/Renens - PROCIMMO SA has bought up the Stewo site in the canton of Lucerne. Measuring around two hectares in area, the site is initially to be leased as a commercial space, before later being developed into a mixed-use development with both residential and commercial offerings.
PROCIMMO SA, the fund management company of Procimmo Real Estate SICAV based in Renens in the Swiss canton of Vaud, has acquired the Stewo site in Wolhusen Markt. According to a company statement, the 19,000 square meter site located in the municipality of Werthenstein in the canton of Lucerne will initially be leased as commercial space.
The acquisition was made possible following a capital increase of the Industrial sub-fund. The municipalities of Wolhusen and Werthenstein have declared their willingness to cooperate with the new owner in relation to efforts aimed at redeveloping the site. Local political representatives will also be involved in this process. In a further step, modern residential and commercial buildings will be constructed on the site, creating an attractive living environment.
The paper products company Stewo International AG has discontinued production and logistics activities at the site but continues to operate from its location in Sursee in the canton of Lucerne. As PROCIMMO writes, the industrial site is therefore completely vacant at present.
