Allreal plans residential complex comprising condominiums and rental units on Spiserstrasse in Zurich Albisrieden
Glattpark, 9 September 2020: In cooperation with Leutwyler Dienstleistungen AG, Allreal is planning implementation of a residential complex on Spiserstrasse in Zurich Albisrieden comprising 63 condomimiums and 43 rental units. At the beginning of 2020, five architectural practices were invited to participate in a project competition for the site measuring 4,600 square metres. The jury has unanimously selected the project submitted by ADP Architektur Design Planung AG for further processing. Construction start of the residential complex is scheduled for end 2022, at the earliest. The investment volume amounts to about CHF 75 million.
Allreal acquired the existing property located at Spiserstrasse 14-18 in November 2018. Additional parcels of land on the site now for development are owned by project partner Leutwyler Dienstleistungen AG.
At the beginning of 2020, the land owners jointly implemented a project competition serving implementation of a high-quality urban-planning and architectural project. Five renowned architectural practices were invited to submit a project. In July 2020, an expert jury headed by Florian Zierer unanimously selected the project submitted by ADP Architektur Design Planung AG in Zurich and recommended it for further development.
The project is characterised by an innovative and intelligent urban design with high recognition value. It envisages a seven-storey new building comprising 63 condominiums (owned by Allreal) and about 43 rental apartments (owned by Leutwyler Dienstleistungen AG).
The winning project will be processed in the coming months. It is anticipated that planning approval will be submitted mid-2021. Depending on the approval procedure, construction start of the condominiums is scheduled for end 2022 and completion for 2025.
|Owners||Allreal Generalunternehmung AG, Zurich (condominiums)|
Leutwyler Dienstleistungen AG (rental units)
|Project development||Allreal Generalunternehmung AG, Zurich|
|Architecture||ADP Architektur Design Planung AG, Zurich|
|Project||Residential complex comprising 63 condominiums and 43 rental units|
|Address||Spiserstrasse 14-18, 8047 Zurich|
|Residential mix||2½-room -5½-room apartments (condominiums)|
1½-room - 3½-room apartments (rental units)
|Site area||4,623 m²|
|Useable area||10,167 m²|
|Investment volume (Allreal)||about CHF 75 million|
|Construction sum (Leutwyler)||about CHF 18 million|
|Planning application entire project||Mid-2021 (scheduled)|
|Construction start||End 2022 (scheduled)|
|Completion||Beginning 2025 (scheduled)|
Allreal combines a stable-income real estate portfolio with the activities of a general contractor (development and realisation). The value of the real estate portfolio amounts to more than CHF 5 billion. In the 2020 fiscal year, the project volume effectively handled by the Projects & Development division amounted to CHF 363 million. Allreal employs more than 250 members of staff in Zurich, Basel, Berne and Geneva. Allreal’s operational headquarters is located at Glattpark. The company operates in Switzerland only. Shares of Allreal Holding AG are listed on the SIX Swiss Exchange.