After Signa bankruptcy Central Group wants to buy Globus headquarters in Zurich - but nothing else
Following the Signa bankruptcy, the Globus shares are to be sold quickly. However, the co-owner Central Group from Thailand is only interested in one of the Globus properties.
No time? blue News summarizes for you
- According to a media report, the Central Group from Thailand will soon be submitting an offer for the Globus on Schweizergasse in Zurich.
- Following the insolvency of the Austrian Signa Group, the Globus shares are to be sold.
- However, the Central Group has no interest in four other Globus properties.
Following the insolvency of the Austrian Signa Group, negotiations are currently underway regarding the future of the Globus department stores.
According to the Sonntagszeitung newspaper, the co-owner Central Group from Thailand will soon be submitting an offer for the Globus on Schweizergasse in Zurich.
The main Globus building directly on Zurich's Bahnhofstrasse is attracting interest from the Thais "due to the strategic importance of the property", the newspaper quotes from Signa Prime Selection's redevelopment report from mid-July.
No interest in the other four properties
However, the Central Group has no interest in four other Globus properties, according to the report. According to the restructuring report, the smaller locations are to be sold. The sales process for the store on Spitalgasse in Bern, for example, has been prepared. The Central Group is now awaiting approval for this.
Loose negotiations are currently underway for the other smaller properties, according to the report. With the exception of the construction site in Basel: the building there will only be completed and sold at the end of the construction period in 2026. In addition, negotiations on a possible takeover of the operational Globus business are still ongoing.
Proceeds of over 500 million unrealistic
The Thailand-based family-owned Central Group bought Globus together with the Signa Group from the retailer Migros. Both owners own half of Globus.
According to the report, nothing is known about a possible purchase price for the property in Zurich. However, the proceeds will probably bring in far less than the sum that Signa last had on its books for the building. In the 2022 annual report, the value of the property was put at 757 million Swiss francs. "That was more wishful thinking than reality," UBS real estate expert told the newspaper.
A transaction price of more than CHF 500 million for the property is unrealistic, according to industry experts.
With material from sda.