Press release
Mobimo opens the Aeschbachquartier in Aarau
Lucerne, 4 April 2019 - Mobimo has successfully completed the transformation of a formerly derelict industrial site in Aarau into a mixed-use district. A decade after the start of development work, the Aeschbachquartier now boasts almost 1,000 workplaces and approximately 600 residents. The Aeschbachquartier is the first district in Switzerland to receive certification from the German Sustainable Building Council.
In a development process that has taken just under ten years, an industrial wasteland five minutes from Aarau train station has been transformed into a new district - the Aeschbachquartier. The development of the site, which is divided into four construction plots and had a total investment volume of CHF 268 million, began in 2012 with the completion of the Polygon building (site 3). Rockwell Automation has moved into the Polygon building, with some 200 workplaces. This was followed by the sensational demolition of the Sprecherhof building in 2013 and the construction of the GastroSocial Tower on site 1, with GastroSocial employees moving into the building in 2016. This building has since served as a striking entrance to the district.
Aeschbachhalle at the centre of the district
In 2015, the foundation stone for the construction of a varied selection of 92 condominiums was laid on site 4. There has been huge demand for the residential units, with all but three of the condominiums having been sold just two years after their completion. In 2016, Mobimo set about tackling site 4, where it created 167 rental apartments and some 2,600 m2 of commercial space. In parallel to this, the Aeschbachhalle - an industrial building dating back to 1910 - was carefully renovated. Let by experienced operators, the Aeschbachhalle is at the heart of the district. The hall measures 2,700 m2, is split into various rooms that can be rented individually or in combination, and in future will play host to private and public events, concerts, exhibitions, etc. The restaurant and bar inside the Aeschbachhalle will be open for guests, regardless of the various activities being held in the hall. The occupancy rate of the apartments and commercial space is very satisfactory, standing at 80% and 70% respectively just a few weeks after the completion of construction work. For Mobimo, the Aeschbachquartier represents a profitable investment at a central location in the cantonal capital of Aarau. For Aarau, the new district with its over 1,000 jobs and 600 new residents is an interesting addition to the historical old town.
Public Oehler Park and a work of art bringing the community together
The Aeschbachquartier is the first district in Switzerland to be awarded the gold certificate by the German Sustainable Building Council. This certification not only takes environmental factors into consideration, but also assesses a development project on its construction, planning and socio-cultural merits. The analysis stage prior to the award of the certificate covered a wide range of topics, such as location, mobility, energy supply, amenity value and social diversity. The Aeschbachquartier sets itself apart from other parts of the city thanks to the work of art created by the internationally renowned Belgian artist Kris Martin - an oversized goblet from which the residents of the district can drink together symbolically - as well as the extensive Oehler Park, which is open to the public, and a nursery housed in the grand Villa Oehler.
Opening ceremony on 6 April
The City of Aarau, the operators of the Aeschbachhalle, condominium owners, tenants, business owners and Mobimo will celebrate the opening of the Aeschbachquartier with a district party featuring a wide range of attractions on Saturday, 6 April 2019. All residents of the City of Aarau are invited to attend.
If you have any questions, please contact:
Mobimo Holding AG
Marion Schihin, Corporate Communications
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About Mobimo:
Mobimo Holding AG was established in Lucerne in 1999 and has been listed on the SIX Swiss Exchange since 2005. With a real estate portfolio with a total value of more than CHF 3.0 billion, the Group is one of the leading real estate companies in Switzerland. The portfolio comprises investment and development properties in first-class locations in German-speaking Switzerland and French-speaking Switzerland. Mobimo generates stable rental income with its residential and commercial properties, while its development expertise and full pipeline allows it to create value enhancement potential in its own portfolio and for third parties. The investment volume of development properties for its own portfolio totals around CHF 0.9 billion. Mobimo has a stable business model, pursues a sustainable strategy and provides its shareholders with an attractive return.
