11. Investment properties
|
In CHF 1,000 |
Residential properties |
Commercial properties |
Properties under construction |
Undeveloped plots of land |
Total investment properties |
|
Market value as at 1 January 2016 |
745,866 |
81,045 |
3,507 |
12,235 |
842,653 |
|
|
|
|
|
|
|
|
Acquisition costs as at 1 January 2016 |
285,621 |
57,471 |
4,073 |
12,235 |
359,400 |
|
Changes in scope of consolidation |
- |
19,923 |
- |
- |
19,923 |
|
Increases |
39,462 |
23,452 |
4,000 |
295 |
67,209 |
|
Capitalisation of borrowing costs |
- |
- |
- |
10 |
10 |
|
Disposals |
–187 |
–3,099 |
- |
–999 |
–4,285 |
|
Reclassifications |
8,009 |
- |
–8,009 |
–4,213 |
–4,213 |
|
Acquisition costs as at 31 December 2016 |
332,905 |
97,747 |
64 |
7,328 |
438,044 |
|
|
|
|
|
|
|
|
Revaluation as at 1 January 2016 |
460,245 |
23,574 |
–566 |
- |
483,253 |
|
Gains on valuations |
60,592 |
1,097 |
- |
- |
61,689 |
|
Losses on valuations |
–11,202 |
–3,912 |
- |
- |
–15,114 |
|
Disposals |
–13 |
–5,377 |
- |
- |
–5,390 |
|
Reclassifications |
–566 |
- |
566 |
- |
0 |
|
Revaluation as at 31 December 2016 |
509,056 |
15,382 |
- |
- |
524,438 |
|
Market value as at 31 December 2016 |
841,961 |
113,129 |
64 |
7,328 |
962,481 |
|
|
|
|
|
|
|
|
Market value as at 1 January 2017 |
841,961 |
113,129 |
64 |
7,328 |
962,481 |
|
|
|
|
|
|
|
|
Acquisition costs as at 1 January 2017 |
332,905 |
97,747 |
64 |
7,328 |
438,044 |
|
Changes in scope of consolidation |
61,243 |
22,857 |
122 |
- |
84,221 |
|
Increases |
18,513 |
360 |
11,304 |
1,673 |
31,849 |
|
Disposals |
–4,017 |
–4,965 |
- |
- |
–8,982 |
|
Reclassifications |
–3,211 |
- |
3,211 |
–7,328 |
–7,328 |
|
Acquisition costs as at 31 December 2017 |
405,432 |
115,999 |
14,701 |
1,673 |
537,804 |
|
|
|
|
|
|
|
|
Revaluation as at 1 January 2017 |
509,056 |
15,382 |
- |
- |
524,438 |
|
Gains on valuations |
37,336 |
625 |
- |
- |
37,962 |
|
Losses on valuations |
–8,319 |
–4,126 |
–563 |
- |
–13,008 |
|
Disposals |
–2,187 |
–97 |
- |
- |
–2,284 |
|
Reclassifications |
–689 |
- |
689 |
- |
0 |
|
Revaluation as at 31 December 2017 |
535,197 |
11,785 |
126 |
- |
547,108 |
|
Market value as at 31 December 2017 |
940,629 |
127,784 |
14,826 |
1,673 |
1,084,912 |
Increases consisted of value-enhancing renovations, purchases of buildings and investments.
In 2017, six residential properties (Avenue Général-Guisan 40 in Pully, Chemin Fagne 1 in Bière, Route de Tsarbouye 61 in Crans-Montana, Route du Pont du Diable 3 in Lens, Rue de la Télérésidence 2 in Lens and one building plot of Route de Crans 87 in Lens) and one commercial property (Chemin de Planchy 15/15a in Bulle) were sold.
In 2016, one residential property (Route du Pont du Diable 7 in Lens) and two commercial properties (Chocolatière 21 in Echandens, C.-F. Ramuz 106 in Pully) were sold. CHF 3.4 million of the sales price was paid in securities, so the sales price was non-cash-effective to this extent.
The valuation of investment properties was carried out by Wüest Partner AG in accordance with national and international standards and guidelines.