Rent too expensive Migros sells luxury store on Europaallee in Zurich
Just three years after opening, Migros Zurich is selling its prestigious "Bridge" project. In the end, the exorbitantly high rent was not sustainable.
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- Migros Zurich sold its flagship project "Bridge" on Europaallee, which opened just three years ago.
- The monthly rent was high in line with the exclusive location of the property, but the concept was clearly not convincing.
- The reasons for the rapid sale of the luxury project remain unclear, but it is a sign that expectations were not met.
Migros Zurich has given its prestigious "Bridge" project on Europaallee no further future and has announced the sale of the luxury temple after a good three years. As Migros announced on Wednesday afternoon, Pons Culinaris AG will take over the project from the new year.
The sale comes as no surprise: the "Bridge" no longer fitted in with Migros' new strategic direction.
Originally conceived as a "meeting place for food lovers", the project offered a modern and hip shopping experience on several floors and 2000 square meters.
According to "Inside Paradeplatz", the rent paid by the regional cooperative is astronomically high. Bridge" also had to be sold due to the high costs.
