Norway's sovereign wealth fund puts Zurich office campus up for sale

The Norwegian sovereign wealth fund has launched a process to sell the Üetlihof, one of Switzerland's largest office complexes located in Zurich. The site, which was formerly a major Credit Suisse location, is currently occupied by UBS.

The complex consists of two buildings providing approximately 8,500 workstations across roughly 100,000 square meters of space. While a previous attempt to sell the property in 2022 involved a valuation of 1.3 billion Swiss francs, no official price or buyer has been announced for the current sale process. The fund reportedly aims to conclude the transaction before the end of the year.

UBS holds a lease at the site that runs until 2037, a factor that provides predictable rental income but may limit immediate changes to the property's use. Although the site is located in a residential zone, which could allow for future conversion into housing if the tenant vacates, such a transformation remains a hypothesis. UBS has indicated that the Üetlihof is a key location for its support functions, even as it continues to reorganize office spaces and sublet certain areas.