Avenue de l’Amandolier 21, Geneva
Construction of a new apartment building with 16 rental apartments, as well as retail space. The amount of space available for rent totals 1,288 m2. The project is being executed by the Projects & Development division and, upon completion in the first half of 2025, will be reported in the portfolio of yield-producing properties. For the market valuation as at the balance sheet cut-off date, nominal discount and capitalisation rates of 3.25% and 2.25% were applied (31.12. 2022: 3.25% and 2.25%).
The investment real estate under construction is 100% solely owned by Allreal
Rue Edouard-Rod 10, Geneva
Construction of a new apartment building with 16 rental apartments, as well as retail space on the ground floor. The amount of space available for rent totals 1,328 m2. The project is being managed by the Projects & Development division and, upon completion in the first half of 2025, will be reported in the portfolio of yield-producing properties. For the market valuation as at the balance sheet cut-off date, nominal discount and capitalisation rates of 3.05% and 2.55%, respectively, were applied.
The investment real estate under construction is 100% solely owned by Allreal
Bellerivestrasse 36, Zurich
Comprehensive total refurbishment of a commercial property, conforming to the high standards that are in place in terms of energy efficiency. The project is being executed by the Projects & Development division and, upon completion in the second half of 2023, will again be reported in the portfolio of yield-producing properties. For the market valuation as at the balance sheet cut-off date, nominal discount and capitalisation rates of 3.95% and 2.95% were applied (2021: 3.55% and 3.05%).
The investment real estate under construction is 100% solely owned by Allreal
Renggerstrasse 3, Zurich
Conversion of a commercial building into an apartment building consisting of 21 apartments. The project will be executed by the Projects & Development division and, upon completion in the second half of 2025, will be reported in the portfolio of yield-producing properties. For the market valuation as at the balance sheet cut-off date, nominal discount and capitalisation rates of 3.25% and 2.25%, respectively, were applied.
The investment real estate under construction is 100% solely owned by Allreal.
Investment real estate under construction as at 30 June 2023
| Location | Property | Acquisition/ project start | Area of property in m2 | Register of suspected contaminated sites | Market value CHF million [1] | Estimated investment volume CHF million [2] | Target rental income on completion p.a. CHF million | Expected completion |
|---|---|---|---|---|---|---|---|---|
| Geneva | Avenue de l'Amondolier 21 | 2021 | 1667 | no | 9.2 | 9.4 | 0.4 | 2025 |
| Geneva | Rue Edouard-Rod 10 | 2021/2023 | 1706 | no | 8.2 | 15.7 | 0.5 | 2025 |
| Zurich | Bellerivestrasse 36 | 2004/2021 | 10 494 | no | 175.6 | 177.4 | 7.2 | 2023 |
| Zurich | Renggerstrasse 3 | 1999/2023 | 1389 | no | 10.9 | 25.0 | 0.7 | 2025 |
| Total investment real estate under construction | 203.9 | 227.5 | 8.8 |
[1] As per 30.06.2023 valuation
[2] Building and land costs
Investment real estate under construction as at 30 June 2023
| Geneva | |
| Property | Avenue de l'Amondolier 21 |
| Acquisition/project start | 2021 |
| Area of property in m2 | 1667 |
| Register of suspected contaminated sites | no |
| Market value CHF million [1] | 9.2 |
| Estimated investment volume CHF million [2] | 9.4 |
| Target rental income on completion p.a. CHF million | 0.4 |
| Expected completion | 2025 |
| Geneva | |
| Property | Rue Edouard-Rod 10 |
| Acquisition/project start | 2021/2023 |
| Area of property in m2 | 1706 |
| Register of suspected contaminated sites | no |
| Market value CHF million [1] | 8.2 |
| Estimated investment volume CHF million [2] | 15.7 |
| Target rental income on completion p.a. CHF million | 0.5 |
| Expected completion | 2025 |
| Zurich | |
| Property | Bellerivestrasse 36 |
| Acquisition/project start | 2004/2021 |
| Area of property in m2 | 10 494 |
| Register of suspected contaminated sites | no |
| Market value CHF million [1] | 175.6 |
| Estimated investment volume CHF million [2] | 177.4 |
| Target rental income on completion p.a. CHF million | 7.2 |
| Expected completion | 2023 |
| Zurich | |
| Property | Renggerstrasse 3 |
| Acquisition/project start | 1999/2023 |
| Area of property in m2 | 1389 |
| Register of suspected contaminated sites | no |
| Market value CHF million [1] | 10.9 |
| Estimated investment volume CHF million [2] | 25.0 |
| Target rental income on completion p.a. CHF million | 0.7 |
| Expected completion | 2025 |
| Total investment real estate under construction | |
| Market value CHF million [1] | 203.9 |
| Estimated investment volume CHF million [2] | 227.5 |
| Target rental income on completion p.a. CHF million | 8.8 |
[1] As per 30.06.2023 valuation
[2] Building and land costs