UBS Green Property realizes transformation project in Bern

Q: The four construction phases of the "U8" building

Phase 1 : Galenica sets up temporary office space in the base section of the building at the end of 2024. Phase 2 : The tower section is renovated. Galenica then carries out the interior fit-out and moves back into the tower in 2027. Phase 3 : 69 new residential units are built. To achieve this, in the west and north, the top floor of the three-story base section is dismantled and a three-story extension added. A new inner courtyard is carved out in the middle of the base section. Phase 4 : In April 2030, "U8" is completely transformed and is now a mixed living space with a combination of residential, work and restaurant areas, embedded in an attractive outdoor space.

The building is a flagship project and meets high ecological standards

Originally built in 1971 as a high-rise office block with storage space in the base section of the building, the property previously served as the headquarters of Galenica. While it will continue to serve this purpose, the building is undergoing a complete renovation and will be supplemented with a variety of residential units and public catering options. This comprehensive transformation reflects UBS Green Property’s strong focus on sustainability and multifunctional use.

A visionary transformation project

The redesign of the "U8" building at Untermattweg 8 is a prime example of innovative urban development. Located between Bern and Bümpliz, the project is divided into four phases. It began in November 2024 with the relocation of Galenica to the “Swing Space” on the ground floor and basement of the "U8" building. This phase is scheduled to take three years. In the second phase, the entire tower area will be renovated, allowing Galenica to move back into it in 2027. Starting in 2027, the third will convert the base section of the building into residential space. Finally, in the fourth phase, “U8” will be transformed into a mixed-use building starting in 2030.

Transformation of the "U8" building into a mix of residential, work and restaurant space

Focus on sustainable construction and the circular economy

"U8" attaches great importance to resource-conserving construction and is guided by the principles of the circular economy. The project’s sustainability strategy is built on four central cornerstones:

Reduction: Avoidance of unnecessary elements, open installations and visible steel structures.
Re-use: Use of existing structures and components to reduce CO₂ emissions.
Sustainable building materials: Use of materials with low carbon footprint, such as timber for extensions.
Design suitable for disassembly: Planning for easy dismantling, use of prefabricated elements.

The redesign of the building will be based on the existing foundations. The tower section will be preserved, extended and renovated, although its height will remain unchanged. The "U8" building will incorporate energy-efficient technologies, including numerous photovoltaic elements on the roof and façade for both design and energy generation purposes.

A heating system consisting of a groundwater heat pump and district heating will be installed to produce heat from 100% renewable energy. E-charging stations for electric vehicles will be installed in the underground garage and native plants will be used in the surrounding area. These measures not only help reduce operating costs, but also promote a healthy and pleasant working and living environment.

The project is aiming for SNBS (Swiss Sustainable Building Standard) certification.

A place of diversity and innovation

Converting the base section of the building into residential units will transform "U8" into a vibrant location characterized by its diversity. The combination of modern office space and contemporary living spaces creates an environment that appeals to both companies and private individuals. This multifunctional use promotes interaction and collaboration between different user groups, revitalizing the urban space. The architectural design of the "U8" building embodies the vision of a sustainable and future-oriented city. The modern office spaces offers flexible working environments that meet the demands of today’s workforce, while the new residential areas provide comfortable and stylish living spaces that enhance the urban lifestyle.

Galenica temporarily relocates to the “Swing Space” in the base section of the building during the renovation work

A flagship project for Bern

The "U8" building is more than just a construction project – it symbolizes UBS Green Property’s innovation and commitment to a sustainable future. With its remarkable transformation and clear focus on sustainability and versatile use, the "U8" building is setting new standards in urban development and serves as a model for similar projects.

The four construction phases of the "U8" building

Phase 1: Galenica sets up temporary office space in the base section of the building at the end of 2024.
Phase 2: The tower section is renovated. Galenica then carries out the interior fit-out and moves back into the tower in 2027.
Phase 3: 69 new residential units are built. To achieve this, in the west and north, the top floor of the three-story base section is dismantled and a three-story extension added. A new inner courtyard is carved out in the middle of the base section.
Phase 4: In April 2030, "U8" is completely transformed and is now a mixed living space with a combination of residential, work and restaurant areas, embedded in an attractive outdoor space.

Facts & figures:

Construction time: End of 2024 to 2030 (4 phases)
Transformation of the building into a mix of 69 apartments and around 8,000 m² of office, 380 m² of catering and 560 m² of storage space
The Galenica company remains a tenant and moves to a temporary location within the base section of the building during the renovation work
Investment volume: CHF 85.3 million

This complete renovation is in line with the UBS Green Property portfolio strategy. Built in 1968, the property was acquired at the end of 2021 with the intention, in consultation with the seller and current tenant Galenica, of completely renovating and transforming it from purely commercial to mixed use property, thereby creating new residential space. The project is innovative in terms of implementation, value creation and sustainability. Strategically, this positions us excellently to meet our targets in a challenging market environment through growth from within our existing portfolio. The residential share of the portfolio will be further strengthened, and the investment in Bern will diversify the the portfolio more broadly. Additionally, the project contributes to the active rejuvenation of the portfolio.