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MarketScreener Homepage  >  Equities  >  Swiss Exchange  >  Allreal Holding    ALLN   CH0008837566

ALLREAL HOLDING

(ALLN)
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Allreal : plans residential complex comprising condominiums and rental units on Spiserstrasse in Zurich Albisrieden

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09/09/2020 | 12:55pm EDT

Glattpark, 9 September 2020: In cooperation with Leutwyler Dienstleistungen AG, Allreal is planning implementation of a residential complex on Spiserstrasse in Zurich Albisrieden comprising 63 condomimiums and 43 rental units. At the beginning of 2020, five architectural practices were invited to participate in a project competition for the site measuring 4,600 square metres. The jury has unanimously selected the project submitted by ADP Architektur Design Planung AG for further processing. Construction start of the residential complex is scheduled for end 2022, at the earliest. The investment volume amounts to about CHF 75 million.

Allreal acquired the existing property located at Spiserstrasse 14-18 in November 2018. Additional parcels of land on the site now for development are owned by project partner Leutwyler Dienstleistungen AG.

At the beginning of 2020, the land owners jointly implemented a project competition serving implementation of a high-quality urban-planning and architectural project. Five renowned architectural practices were invited to submit a project. In July 2020, an expert jury headed by Florian Zierer unanimously selected the project submitted by ADP Architektur Design Planung AG in Zurich and recommended it for further development.

The project is characterised by an innovative and intelligent urban design with high recognition value. It envisages a seven-storey new building comprising 63 condominiums (owned by Allreal) and about 43 rental apartments (owned by Leutwyler Dienstleistungen AG).

The winning project will be processed in the coming months. It is anticipated that planning approval will be submitted mid-2021. Depending on the approval procedure, construction start of the condominiums is scheduled for end 2022 and completion for 2025.

Disclaimer

Allreal Holding AG published this content on 09 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 September 2020 15:54:05 UTC


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Sales 2020 216 M 238 M 238 M
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Thomas Wapp Chief Financial Officer & Head-Finance
Olivier Steimer Non-Executive Director
Peter Christoph Spuhler Non-Executive Director