Avenue de l’Amandolier 21, Geneva
Construction of a new apartment building with 16 rental apartments, as well as underground parking spaces. The amount of space available for rent totals 1,288 m2. The project is being executed by the Projects & Development division and is scheduled for completion in the second half of 2024. 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 (2021: 2.85% and 2.35%).
The investment real estate property under construction is 100% solely owned by Allreal.
Avenue du Cimetière 22, Petit-Lancy
Construction of a new apartment building with 17 rental apartments. The total floor space amounts to 1,446 m2. 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 3.45% and 2.45% were applied (2021: 3.05% and 2.55%).
The investment real estate property 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 property under construction is 100% solely owned by Allreal.
Investment real estate under construction as at 31 December 2022
| 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 | 8.9 | 9.6 | 0.4 | 2024 |
| Petit-Lancy GE | Avenue de Cimetière 22 | 2021 | 2116 | no | 12.6 | 8.9 | 0.4 | 2023 |
| Zurich | Bellerivestrasse 36 | 2004/2021 | 10 494 | no | 158.1 | 177.7 | 7.2 | 2023 |
| Total investment real estate under construction | 179.6 | 196.2 | 8.0 |
[1] As per 31.12.2022 valuation
[2] Building and land costs
Investment real estate under construction as at 31 December 2022
| 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] | 8.9 |
| Estimated investment volume CHF million [2] | 9.6 |
| Target rental income on completion p.a. CHF million | 0.4 |
| Expected completion | 2024 |
| Petit-Lancy GE | |
| 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] | 12.6 |
| Estimated investment volume CHF million [2] | 8.9 |
| 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] | 158.1 |
| Estimated investment volume CHF million [2] | 177.7 |
| Target rental income on completion p.a. CHF million | 7.2 |
| Expected completion | 2023 |
| Total investment real estate under construction | |
| Market value CHF million [1] | 179.6 |
| Estimated investment volume CHF million [2] | 196.2 |
| Target rental income on completion p.a. CHF million | 8.0 |
[1] As per 31.12.2022 valuation
[2] Building and land costs