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 square metres. The project is being executed by the Projects & Development division and, upon completion in the second half of 2023, 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 2.85 percent and 2.35 percent, respectively, were applied.
The investment real estate property under construction is 100 percent solely owned by Allreal.
Avenue du Cimetière 22, Petit-Lancy
Construction of a new apartment building with 17 rental apartments. The amount of space available for rent totals 1,067 square metres. The project is being executed by the Projects & Development division and, upon completion in the second half of 2023, 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 percent and 2.55 percent, respectively, were applied.
The investment real estate property under construction is 100 percent 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 3.55 percent and 3.05 percent, respectively, were applied.
The investment real estate property under construction is 100 percent solely owned by Allreal.
Investment real estate under construction as at 31 December 2021
| 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 | 8.6 | 9.4 | 0.4 | 2023 |
| Petit Lancy | Avenue de Cimetière 22 | 2021 | 2116 | no | 10.5 | 8.6 | 0.4 | 2023 |
| Zürich | Bellerivestrasse 36 | 2004/2021 | 10 494 | no | 132.0 | 174.6 | 7.1 | 2023 |
| Total investment real estate under construction | 151.1 | 192.6 | 7.9 |
[1] As per 31.12.2021 valuation
[2] Building and land costs
Investment real estate under construction as at 31 December 2021
| 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] | 8.6 |
| Estimated investment volume CHF million [2] | 9.4 |
| Target rental income on completion p.a. CHF million | 0.4 |
| Expected completion | 2023 |
| Petit Lancy | |
| Property | Avenue de Cimetière 22 |
| Acquisition/project start | 2021 |
| Area of property in m2 | 2116 |
| Register of suspected contaminated sites | no |
| Market value CHF million [1] | 10.5 |
| Estimated investment volume CHF million [2] | 8.6 |
| Target rental income on completion p.a. CHF million | 0.4 |
| Expected completion | 2023 |
| Zurich | |
| Property | Bellerivestrasse |
| Acquisition/project start | 2004/2021 |
| Area of property in m2 | 10 494 |
| Register of suspected contaminated sites | no |
| Market value CHF million [1] | 122.9 |
| Estimated investment volume CHF million [2] | 173.0 |
| Target rental income on completion p.a. CHF million | 6.8 |
| Expected completion | 2023 |
| Total investment real estate under construction | |
| Market value CHF million [1] | 151.1 |
| Estimated investment volume CHF million [2] | 192.6 |
| Target rental income on completion p.a. CHF million | 7.9 |
[1] As per 31.12.2021 valuation
[2] Building and land costs