10 Development real estate
Book value in CHF million | Development | Buildings under | Completed | Total develop- | ||||
As at 01.01.2020 | 134.9 | 31.9 | 0.4 | 167.2 | ||||
Purchases | 11.0 | 0.0 | 0.0 | 11.0 | ||||
From construction activity/development | 0.3 | 7.0 | 2.0 | 9.3 | ||||
Income from sales Development | 0.0 | 0.0 | 1.6 | 1.6 | ||||
Impairment | 0.0 | 0.0 | 0.0 | 0.0 | ||||
Disposals | 0.0 | 0.0 | –4.0 | –4.0 | ||||
Reclassifications | 0.0 | 0.0 | 0.0 | 0.0 | ||||
As at 30.06.2020 | 146.2 | 38.9 | 0.0 | 185.1 |
The addition to development reserves relates to the property Am Strubenacher in Zumikon ZH, ownership of which was transferred in the first half. The changes to buildings under construction relate to the projects Alter Züriweg in Zufikon AG and Florenstrasse in Winterthur ZH. The disposal of completed real estate is in connection with the transfer of ownership of residential units under the project Solistrasse in Bülach ZH. This generated income from sales Development of CHF 1.6 million.
Development real estate as at 30 June 2020
Location | Property | Acquisition/ | Area of property | Register of | Book value | Estimated | Project status | Expected | ||||||||
Development reserves | ||||||||||||||||
Dielsdorf | Neuwisen | 2013 | 46 419 | no | 37.42 | 175.0 | in planning | open | ||||||||
Lucerne | Eggen | 2018 | 8 386 | no | 34.42 | 72.5 | in planning | open | ||||||||
Riehen | Inzlingerstrasse | 2019 | 10 883 | no | 18.62 | 52.6 | in planning | open | ||||||||
Rümlang | Bäuler | 1987 | 12 854 | yes | 6.82 | 30.0 | in planning | open | ||||||||
Zumikon | Am Strubenacher | 2019 | 4 569 | no | 11.02 | 33.8 | in planning | open | ||||||||
Zurich | Hauserstrasse | 2019 | 1 341 | no | 7.12 | 15.0 | in planning | open | ||||||||
Zurich | Spiserstrasse | 2018/2019 | 3 001 | no | 30.92 | 75.2 | in planning | open | ||||||||
Total development reserves | 146.2 | 454.1 | ||||||||||||||
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Winterthur | Florenstrasse | 2016 | 11 582 | no | 27.12 | 57.0 | in progress | 2022 | ||||||||
Zufikon | Alter Züriweg | 2017 | 3 806 | no | 11.82 | 17.0 | in progress | 2021 | ||||||||
Total buildings under construction | 38.9 | 74.0 | ||||||||||||||
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Bülach | Solistrasse | 2011 | 18 586 | yes | 0.02 | |||||||||||
Total completed real estate | 0.0 | |||||||||||||||
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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
Florenstrasse, Winterthur ZH
Eight new-build apartment buildings with a total of 51 condominiums and 74 underground parking spaces with lettable floor space (100% residential) of 6,232 square metres. It is being built by Allreal Generalunternehmung AG and is scheduled for completion in 2022. As at 30 June 2020, contracts of sale had been notarised for 0 of the 51 residential units and 44 had been reserved.
Alter Züriweg, Zufikon AG
Two connected new-build stepped apartment blocks with a total of 20 condominiums and 30 underground parking spaces with lettable floor space (100% residential) of 2,007 square metres. It is being built by Allreal Generalunternehmung AG and is scheduled for completion in 2021. As at 30 June 2020, contracts of sale had been notarised for 17 of the 20 residential units, 0 of which with transfer of ownership, and 2 had been reserved.