9. 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 2019 |
1,146,271 |
102,729 |
25,073 |
1,673 |
1,275,746 |
|
|
|
|
|
|
|
|
Acquisition costs as at 1 January 2019 |
583,242 |
90,162 |
25,073 |
1,673 |
700,149 |
|
Changes in scope of consolidation |
- |
–29,114 |
–1,964 |
- |
–31,079 |
|
Increases |
6,242 |
19,129 |
5,691 |
- |
31,062 |
|
Disposals |
–13,644 |
–566 |
- |
–1,673 |
–15,883 |
|
Reclassifications |
–8,442 |
12,102 |
–12,102 |
- |
–8,442 |
|
Acquisition costs as at 30 June 2019 |
567,398 |
91,711 |
16,699 |
- |
675,808 |
|
|
|
|
|
|
|
|
Revaluation as at 1 January 2019 |
563,029 |
12,567 |
- |
- |
575,597 |
|
Gains on valuations |
43,809 |
1,876 |
- |
- |
45,685 |
|
Losses on valuations |
–12,949 |
–5,130 |
- |
- |
–18,080 |
|
Disposals |
–1,761 |
–531 |
- |
- |
–2,292 |
|
Changes in scope of consolidation |
- |
746 |
- |
- |
746 |
|
Reclassifications |
–1,614 |
- |
- |
- |
–1,614 |
|
Revaluation as at 30 June 2019 |
590,514 |
9,529 |
- |
- |
600,043 |
|
Market value as at 30 June 2019 |
1,157,912 |
101,240 |
16,699 |
- |
1,275,851 |
|
|
|
|
|
|
|
|
Market value as at 1 January 2020 |
1,260,330 |
127,713 |
8,765 |
- |
1,396,808 |
|
|
|
|
|
|
|
|
Acquisition costs as at 1 January 2020 |
637,456 |
121,574 |
8,765 |
- |
767,796 |
|
Increases |
2,404 |
7,215 |
10,797 |
- |
20,416 |
|
Disposals |
–2,905 |
- |
- |
- |
–2,905 |
|
Acquisition costs as at 30 June 2020 |
636,954 |
128,789 |
19,563 |
- |
785,307 |
|
|
|
|
|
|
|
|
Revaluation as at 1 January 2020 |
622,874 |
6,139 |
- |
- |
629,013 |
|
Gains on valuations |
54,001 |
1,218 |
- |
- |
55,220 |
|
Losses on valuations |
–6,440 |
–12,884 |
- |
- |
–19,324 |
|
Disposals |
–11,980 |
- |
- |
- |
–11,980 |
|
Revaluation as at 30 June 2020 |
658,456 |
–5,527 |
- |
- |
652,928 |
|
Market value as at 30 June 2020 |
1,295,410 |
123,262 |
19,563 |
- |
1,438,235 |
Increases consisted of value-enhancing renovations, purchases of buildings and investments.
In the 1st half 2020, the residential property “Rue de la Mairie 6” in Geneva was disposed of.
In the 1st half 2019, the four residential properties “Chemin de la Rochette 4” in Montpreveyres, “Avenue de Bussy 22/24” in Moudon, “Chemin de Valentines 25” in Bex, “Rue Juste Olivier 13” in Nyon, one part of the commercial property “Grand Place 12/14” in Lens and the undeveloped plot of land “Route de Vermala” in Crans-Montana were sold. Moreover, the consolidated Group company “Valotel SA” was disposed of, together with three commercial properties “Grand-Places 14” in Fribourg, “Avenue du Grand-Champsec 21” in Sion, “Helblingstrasse 9” in Rothrist and two properties under construction “Heiligkreuzstrasse” in St. Gallen and “Allée de la petite Prairie” in Nyon. The residential properties “Route de Vermala 43/45” in Crans-Montana and “Route de Crans 87” in Lens were reclassified as properties held for sale.
The valuation of investment properties was carried out by CBRE (Geneva) SA in accordance with national and international standards and guidelines.