Arbonia AG has sold the Zelgstrasse site in Arbon. The buyer is a company of HRS Real Estate AG. The sale was notarised on 19 June 2024. According to a press release from Arbonia, the real estate service provider HRS is acquiring the site on the shores of Lake Constance for more than 34 million Swiss francs. The sale will lead to a positive EBITDA contribution of around 28 million Swiss francs and, after deduction of taxes, a positive effect on the net result.
According to the company, the 35,000 square metre Zelgstrasse site is currently fully let to a third party. The site used to house the refrigerator production of Arbonia subsidiary Forster Kühltechnik AG.
The divestment of the Zelgstrasse site is linked to the sale of Arbonia’s Climate business division in April 2024. The Group is now also reducing the properties that are no longer required. In future, Arbonia will focus on the door business and has already acquired the Italian wood designer Lignis and the Spanish door manufacturer Dimoldura.