CBRE’s Capital Markets team has advised Syngenta on the sale and partial leaseback of its global headquarters. Situated in the heart of Basel, one of the world’s most notable life science clusters, the 54,300 sq m campus has been sold to the Canton of Basel, with Syngenta retaining its headquarters onsite through a ten year lease on the majority of the property.
Following an extensive refurbishment started in 2012, the campus consists of five high-specification office buildings surrounding a newly constructed park that forms the centrepiece of the development. The modern design and high quality internal finishing promote collaboration in an efficient, flexible and modern workplace, which is home to more than 1,300 employees.
CBRE advised on the strategy and structured a competitive sales and leasing process, completing the transaction in just three months and bringing together extensive local real estate knowledge with specialised financial expertise.
With its publicized long-term development and urbanisation plans for the area, the acquisition represents a strategic purchase for the Canton of Basel-Stadt who had also acquired the 47,000 sqm Rosental site adjacent to the Syngenta campus in 2016. The two sites, which benefit from superb accessibility, are now well positioned to create a thriving business district with Syngenta as an anchor tenant in the heart of Basel.
Robin Müller, Co-Head of Capital Markets Switzerland commented: “We are delighted to have advised Syngenta on this sale and leaseback transaction. This is a landmark deal in the Swiss market and was strategically beneficial for both parties, resulting in an optimal outcome in an extremely short timeframe. This disposal allowed Syngenta to release valuable equity which can further be invested into their core business.”
Syngenta Chief Financial Officer Mark Patrick said, “Basel will remain our global Syngenta headquarters and we will leaseback most buildings for an initial period of 10 years. This ensures that we can take advantage of being a long-term tenant rather than an owner, allowing us to further invest in the long-term growth of our company."
Press statement canton Basel-Stadt
