11  Development real estate

 

Development
reserves

 

Buildings under
construction

 

Completed
real estate

 

Total develop-
ment real estate

 

101.6

 

8.3

 

55.8

 

165.7

 

5.3

 

0.0

 

0.0

 

5.3

 

4.2

 

2.2

 

–2.2

 

4.2

 

0.5

 

0.0

 

8.1

 

8.6

 

0.0

 

0.0

 

0.0

 

0.0

 

–29.7

 

0.0

 

–35.8

 

–65.5

 

15.3

 

0.0

 

0.0

 

15.3

 

97.2

 

10.5

 

25.9

 

133.6

The reclassification from investment real estate to development real estate relates to Grindelstrasse 3/5 in Bassersdorf (CHF 16.0 million). Following sale to a third party and the start of construction, the Fangletenstrasse project in Bülach (accrued costs) was reclassified from development real estate to trade receivables (CHF –0.7 million).

Development real estate as at 30 June 2017

 

Acquisition/
project start

 

Area of
property
in m2

 

Register of
suspected
contaminated
sites

 

Book value
CHF million

 

Estimated
investment
volume
CHF million1

 

Project status

 

Expected
completion

              
   

2008

 

12 004

 

no

 

19.32

 

80.0

 

in planning

 

open

   

2011

 

18 586

 

yes

 

19.02

 

55.0

 

in planning

 

open

   

2013

 

46 419

 

no

 

35.42

 

175.0

 

in planning

 

open

   

1987

 

30 278

 

yes

 

16.02

 

100.0

 

in planning

 

open

   

2016

 

11 582

 

no

 

2.33

 

55.0

 

in planning

 

open

   

2017

 

3 806

 

no

 

5.22

 

17.0

 

in planning

 

open

       

97.2

 

482.0

    
   

2011

 

3 948

 

no

 

10.5

 

16.0

 

in progress

 

2018

       

10.5

 

16.0

    
 

20144

     

8.4

      
   

20164

     

17.5

      
       

25.9

      
    

133.6

 

498.0

    

1 Land and building costs

2 Book value includes acquisition costs for the land 100% owned by Allreal and accrued project costs of third parties

3 Book value includes acquisition costs for prepayments made for land and accrued project costs of third parties (transfer of ownership for land pending)

4 Completion

Kirschblütenweg, Basel

New-build complex of 12 terraced houses and 24 garage parking spaces to Minergie standard with lettable floor space (100% residential) of 1,967 square metres. It is being built by Allreal Generalunternehmung AG and is scheduled for completion in 2018. As at 30 June 2017, all residential units had been sold, 0 of which with transfer of ownership.

Lerchenbergstrasse, Erlenbach ZH

Five new-build semi-detached houses and three new-build apartment buildings with a total of 39 residential units and 93 underground parking spaces to Minergie standard with lettable floor space (100% residential) of 7,730 square metres. The project was built by Allreal Generalunternehmung AG and completed in 2014. As at 30 June 2017, 38 out of 39 residential units had been sold, 35 of which with transfer of ownership. 1 apartment was still for sale.

Guggach, Zurich

Four new-build apartment buildings with a total of 197 condominiums and 219 underground parking spaces to Minergie standard with lettable floor space (100% residential) of 25,919 square metres. The project was built by Allreal Generalunternehmung AG and completed in 2016. As at 30 June 2017, 195 out of 197 residential units had been sold, 186 of which with transfer of ownership. Two apartments were still for sale.