City of Zurich as savior? "Sugus" building owner is willing to sell - at a high price
When Regina Bachmann gave notice to 105 tenants in the Sugus buildings to allow them to be renovated, it triggered a wave of outrage. Now there is talk that she is ready to sell - for a high price.
No time? blue News summarizes for you
- The heiress of three of the nine Sugus buildings in Zurich has sparked public outrage by giving notice to 105 tenants.
- Even under pressure from politicians and the public, it does not want to reverse the terminations.
- However, she is now said to have signaled her willingness to sell her properties.
- In principle, only the city of Zurich is a possible buyer due to the high price.
- The purchase of the apartments would account for a considerable proportion of the budget earmarked for the acquisition of housing.
More than 200 people will probably have to move out of the "Sugus" houses near Zurich's main railway station next March. Regina Bachmann, heiress and owner of three of the nine apartment blocks, had given 105 tenants notice to vacate in order to have her property renovated.
Outrage followed - and it was spread across the most diverse political spectrums. Bachmann's decision was criticized by everyone from the SP and FDP to the SVP. There were calls for Bachmann to withdraw the terminations. However, the owner ruled this out.
Purchase price too high for private investors
Instead, according to CH Media, she has now raised the possibility of selling her Sugus buildings. However, the purchase price is so high that it is likely to be impossible to find a private investor. The remaining option is for the city of Zurich to take action itself.
Zurich has actually planned a budget of 600 million francs for the coming year for the acquisition of residential space. According to one expert, the value of the properties will rise to over 110 million francs after a total renovation. That is a considerable proportion of the budget for just 105 apartments.
For a red-green governed city like Zurich, however, the acquisition would also have a symbolic value and therefore a political appeal. However, it remains to be seen whether the city will ultimately take action. No concrete plans for the acquisition of Bachmann's houses are known.
Bachmann has renamed her real estate company
Meanwhile, Bachmann would probably have preferred to do without the media aftermath. As was also announced on Wednesday, the manager of the Sugus houses has been arrested. Among other things, he is being investigated for dishonest management and embezzlement.
She has renamed her real estate company, formerly known as Regina Bachmann Immobilien Zug, and has chosen a strikingly interchangeable name, "Intuiva", which leaves her own name out of the equation.
The remaining six Sugus houses are owned by Regina Bachmann's two brothers. They do not appear to be interested in an appreciation of the properties and the associated increase in rents. One of the brothers recently told the media that their father wanted to use the houses to create affordable living space near the city center.
