2.2 Statement of changes in property portfolio
Audited information|
CHF 1,000 |
Residential properties |
Commercial properties |
Properties under construction |
Total investment properties |
Properties held for sale |
Total property portfolio |
|
Portfolio value as at 1 January 2022 |
1,605,772 |
111,993 |
263 |
1,718,028 |
16,904 |
1,734,932 |
|
|
|
|
|
|
|
- |
|
Acquisition costs as at 1 January 2022 |
709,713 |
124,642 |
263 |
834,617 |
16,904 |
851,521 |
|
Increases |
11,020 |
7,953 |
- |
18,973 |
179 |
19,151 |
|
Disposals |
–112,206 |
- |
- |
–112,206 |
–728 |
–112,934 |
|
Acquisition costs as at 31 December 2022 |
608,527 |
132,595 |
263 |
741,385 |
16,354 |
757,739 |
|
|
|
|
|
|
|
- |
|
Revaluation as at 1 January 2022 |
896,059 |
–12,649 |
- |
883,410 |
- |
883,410 |
|
Gains on valuations |
85,839 |
2,740 |
- |
88,580 |
- |
88,580 |
|
Losses on valuations |
–6,898 |
–14,515 |
- |
–21,413 |
- |
–21,413 |
|
Disposals |
–200,393 |
- |
- |
–200,393 |
- |
–200,393 |
|
Revaluation as at 31 December 2022 |
774,608 |
–24,424 |
- |
750,184 |
- |
750,184 |
|
Portfolio value as at 31 December 2022 |
1,383,135 |
108,170 |
263 |
1,491,568 |
16,354 |
1,507,923 |
|
|
|
|
|
|
|
|
|
Portfolio value as at 1 January 2023 |
1,383,135 |
108,170 |
263 |
1,491,568 |
16,354 |
1,507,923 |
|
|
|
|
|
|
|
|
|
Acquisition costs as at 1 January 2023 |
608,527 |
132,595 |
263 |
741,385 |
16,354 |
757,739 |
|
Changes in scope of consolidation |
16,870 |
- |
- |
16,870 |
- |
16,870 |
|
Increases |
7,928 |
40,065 |
- |
47,993 |
61 |
48,054 |
|
Disposals |
- |
- |
- |
- |
–7,147 |
–7,147 |
|
Acquisition costs as at 31 December 2023 |
633,325 |
172,659 |
263 |
806,248 |
9,269 |
815,516 |
|
|
|
|
|
|
|
|
|
Revaluation as at 1 January 2023 |
774,608 |
–24,424 |
- |
750,184 |
- |
750,184 |
|
Gains on valuations |
4,102 |
1,418 |
- |
5,520 |
- |
5,520 |
|
Losses on valuations |
–50,553 |
–2,641 |
- |
–53,195 |
- |
–53,195 |
|
Revaluation as at 31 December 2023 |
728,157 |
–25,648 |
- |
702,509 |
- |
702,509 |
|
Portfolio value as at 31 December 2023 |
1,361,482 |
147,012 |
263 |
1,508,757 |
9,269 |
1,518,026 |
As at 31 December 2023 and 2022, the valuation of investment properties was carried out by CBRE (Geneva) SA in accordance with national and international standards and guidelines.
Increases consisted of value-enhancing renovations, purchases of buildings and investments.
In 2023, governmental grants amounting to CHF 0.6 million (2022: CHF 0.0 million) were received and offset against the corresponding increases. CHF 0.2 million (2022: CHF 0.0 million) were received for energetical renovation of residential properties, CHF 0.4 million (2022: CHF 0.0 million) concerns general subsidy for the economy and hotel promotion. The condition is that the hotel in question remains in operation for the next 25 years.
In 2023, two residential units and one retail unit (2022: one retail unit) at “Gstaadstrasse 6/8” in Saanen (properties held for sale) were sold.
In 2022, the following residential properties were disposed of:
- –Geneva: Rue Antoine-Carteret 5/Rue du Colombier 11/13, Rue Lamartine 13/15a/15b, Rue Lamartine 17a/17b, Rue Liotard 69/71
- –Meyrin: Avenue de Vaudagne 29/31, Rue De-Livron 17/19
- –Carouge: Rue de la Gabelle 3
- –Lausanne: Rue du Maupas 61/63/65/67, Chemin des Lys 14, Avenue des Oiseaux 15/17
- –Renens: Avenue de Florissant 34/36