Intershop Finalizes Sale of Lehenmatt Properties in Basel

Intershop Holding AG announced the successful sale of its fully developed Lehenmatt properties in Basel. The agreement includes two high-rise buildings at Redingstrasse and a retail center at Lehenmattstrasse. Initially acquired in 2006, Intershop implemented a development plan that allowed for the creation of additional residential space. The project involved renovating 264 existing flats and adding 68 new units, all adhering to high sustainability standards.

The properties will be transferred to a Swiss investment foundation by the end of 2026. Intershop anticipates pre-tax net gains from the transaction ranging between CHF 90 million and CHF 95 million for the financial year. This move aligns with Intershop's business model of enhancing and divesting properties efficiently.