Swiss Prime Site is divesting two commercial properties for a total of CHF 280 mln (EUR 228 mln). The listed real estate company said the disposals generate a gross profit of CHF 77 mln, given that the properties were booked at a combined fair value of CHF 203 mln at end-June this year.

The buyer of the Volkiland shopping centre in Volketswil and the nearby Under Höh retail and commercial property were not discosed. Volkiland was constructed in 1985 and renovated in 2003.

Swiss Prime Site has CHF 8.2 bn of real estate under management in Switzerland. The company has been listed on the SIX Swiss Exchange since 2000 and has a market capitalisation of CHF 3.9 bn.