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News Release

Zurich

JLL successfully concludes location search for the new Swiss headquarters of VELUX

The lease agreement for the new VELUX headquarters in Aarburg (canton of Aargau) was signed in March 2017 after 15-months of site search and negotiations.


The VELUX Group (VELUX) is with more than 10,000 employees one of the largest producers of building materials worldwide. VELUX products include windows and modular skylights, as well as a range of decorative elements, blinds, roller shutters, installation solutions and remote controls . VELUX has production facilities in 11 countries and sales operations in more than 35 countries. In Switzerland, the company employs 70 persons. The current headquarters of VELUX Schweiz AG is located in Trimbach (canton of Solothurn).

JLL was responsible for the entire location search which was conducted by a structured multi-stage process. The process included the analysis of the current lease situation as well as the evaluation of alternative lease options in existing buildings and in development projects across the cantons of Aargau and Solothurn. After first comparisons of different lease options, VELUX decided that a new building would be the best solution for their new headquarters. JLL subsequently analysed in-depth several development projects regarding their general suitability and financial attractiveness (floor plans, building specifications, basic fit out, time line, financial conditions, etc.). The analysis resulted in a short list of potential development projects with which JLL initiated preliminary competitive lease negotiations.

The development project on “land plot B” in vicinity of the railway station Aarburg emerged relatively quickly as the most suitable option due to its good connection to public and private transportation and its good visibility. JLL negotiated in the following with the developer a tailor-made package for VELUX including a ready-to-sign lease agreement. JLL was able to achieve attractive conditions regarding the rent level as well as the basic fit out provided by the landlord. VELUX will be the anchor tenant by leasing 80% of the industrial and office space of the new building.

The JLL advisory team consisted of Patrik Stillhart and Severin Pfefferli.