Zurich sells office locations in Bonn and Cologne to CORPUS SIREO

The decision has been made. Zurich Gruppe Deutschland is selling its owneroccupied office properties at the Bonn and Cologne locations to the Colognebased real estate service provider and project developer CORPUS SIREO.

− Further milestone achieved for new Zurich head office in Cologne

− Zurich set to move out of owner-occupied properties in Bonn and Cologne at end of 2019

− CORPUS SIREO to press ahead with site development

The contracts were notarised in August. Zurich is expected to continue to use the office properties in Bonn and Cologne until the end of 2019 before moving into its newly constructed head office in the Messe/Deutz area of Cologne. Zurich has agreed to re-let the existing buildings from CORPUS SIREO during the construction phase. The property package sold includes the administrative office in Poppelsdorfer Allee in Bonn, the building in Rabinstr. in Bonn, and the complex around Riehler and Worringer Str. in Cologne. The parties have agreed not to disclose the purchase price.

CORPUS SIREO, the German real estate subsidiary of Swiss Life Asset Managers, will work in close cooperation with the responsible authorities in Bonn and Cologne to define a subsequent use for the properties that is consistent with the urban development plans of the two cities.

Zurich‘s new head office is being constructed on a site near Cologne Messe/ Deutz station. MesseCity, a development project of STRABAG Real Estate GmbH and ECE Projektmanagement GmbH & Co. KG, will provide modern office space for the around 2,700 Zurich employees at the current Bonn and Cologne locations.