Allreal concludes 10-year rental agreement with new anchor tenant for office building on Bellerivestrasse in Zurich and submits planning application for refurbishment

Ad hoc announcement pursuant to Art. 53 LR

Zurich, 2 July 2020: Allreal concluded a 10-year rental agreement with an anchor tenant for office space measuring around 5,800 sq. metres located at Bellerivestrasse 36 in Zurich Riesbach. The agreement commences from July 2023 and secures more than 60 percent of the building’s future annual rental income of CHF 6.8 million. Refurbishment of the prestigious office building will be completed by that date. Allreal submitted planning application in the beginning of July 2020. The building provides total rental space of about 12,000 square metres. Start of the two-year refurbishment period is scheduled for summer 2021.

The office building was constructed in the Seefeld district of Zurich in 1974 and joined Allreal’s portfolio of yield-producing properties in 2004. The current rental agreements for the building will expire beginning of 2021. Allreal will take advantage of this opportunity to comprehensively modernise the sevenstorey building. Following completion, the building will meet state-of-the-art requirements in sustainability.

C.F. Møller, the Danish firm of architects, in 2019 submitted the winning project to a study competition conducted by Allreal. The project is characterised by a contemporary design with an opening and orientation toward Lake Zurich.

Allreal will commence implementation once the approval procedure has been completed, which is expected for summer 2021. Completion and taking into operation of the building are scheduled for summer 2023.

 

Facts and figures

Owner Allreal Office AG, Zurich
Project development Allreal Generalunternehmung AG, Zurich
Architecture C.F. Møller, Copenhagen, Denmark
Project Refurbishment of office building comprising about 12,000 square metres rentable space
Address Bellerivestrasse 36, 8008 Zurich
Plot size 10,494 m²
Rentable space
(as at 30.06.2020)
Office:                9,335 m²
Warehouse:       2,275 m²

Total:                11,610 m²
Investment volume about CHF 50 million

 

Deadlines

Construction start Summer 2021 (scheduled)
Completion Summer 2023 (scheduled)

Should you have any questions or require further information, please contact:

Media Office Allreal Group 
Reto Aregger
Tel. +41 44 319 12 67
Mobile +41 79 325 55 58
E-Mail reto.aregger@allreal.ch

 

Allreal Group
Allreal combines a stable-income property portfolio with the activities of a general contractor (development and realisation). The company’s property portfolio is worth over CHF 5.1 billion. During the 2021 financial year, the volume of projects completed by the Projects & Development division amounted to CHF 343 million. The property company employs more than 250 members of staff across Zurich, Basel, Bern and Geneva. With its registered office on Glattpark, Allreal operates exclusively in Switzerland. Shares in Allreal Holding AG are listed on the SIX Swiss Exchange.

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