July 2024 Edition

Doubling the supply of apartments in Kloten

UBS «Anfos»

Immo Update 15 Jul 2024 5 min read

By Real Estate Switzerland team

Tenants began moving into the new apartments on Alte Landstrasse in Kloten at the beginning of April 2024. The remodeled building with 108 apartments will significantly increase utilization of the property and meet contemporary housing needs. In line with the sustainability objectives of UBS «Anfos», the project provides further proof that the portfolio is growing internally and increases the residential property quota in the regional heavyweight of Zurich.

Remodeled residential building in a central location

108 new apartments have been built across three multi-family residences in the center of Kloten. They form an attractive ensemble with an inviting green courtyard and playground. The new development has replaced a previous 52-apartment residential development from the 1970s. The remodeling project began back in 2018 with the removal of a utilization restriction within the land register. The private-law easement previously restricted utilization of the building to a maximum of 40%, which is significantly lower than that allowed by today's zoning regulations. Construction work began in summer 2021 and will be completed in stages in the first half of 2024. The dominant feature of the complex is the harmonious organization of the clinker-clad houses with versatile, interwoven apartment floor plans.

Construction to the latest living standards

Remodeled residential building with significantly greater utilization at Alte Landstrasse 1, 3, 5 in Kloten (ZH)

The apartments are an example of contemporary modern architecture and meet the latest living standards. The living space is characterized by high-quality interiors with natural stone flooring in all rooms, which boast fitted wardrobes and stacked washer/dryers. The apartments are efficiently designed and have large balconies and terraces. Thanks to the spacious outdoor areas and staggered facade, the 1.5 to 4.5-room apartments are bathed in natural light yet still offer sufficient privacy. A total of nine living units are connected to each floor via a central stairwell.

CO₂ neutral heat generation

The buildings have been constructed to the Minergie standard, meaning that they are heated using a heat pump with the aid of a geothermal probe and are equipped with photovoltaic systems. The new development's almost CO₂-neutral heat generation and high energy efficiency pursue the sustainability objectives of UBS «Anfos» set out in the CO₂ reduction scale for operating emissions.

Prioritization by potential impact

To reduce the operating energy and therefore the emissions in our properties, we prioritize projects with the greatest potential impact. The property in Kloten was previously heated using fossil fuels and had one of the highest greenhouse gas emission intensities in the portfolio. The new development has brought the property in line with contemporary sustainability standards.

The use of resources and materials in construction projects always produces gray emissions. To minimize these, we analyze different options for each project and evaluate them along the dimensions of sustainability in order to choose the best strategy for each property.

Good transport connections

Being located in the north of Kloten, the district is well connected to public and private transport. There are two bus stops in the immediate vicinity, while the access road to the freeway and Zürich-Kloten international airport are just a few minutes' drive away. The town’s center with various shopping facilities and a railway station are about 2,000 meters away.

The two basements offer tenants and their visitors a total of 122 parking spaces. Each of the three buildings has a bike room, which means that the complex offers over 200 cycle parking spaces in total.

Initial lease off to a successful start

Initial lease began on April 1, 2024, and around 80% of the 108 apartments have already been allocated. Innovative features such as a residential navigator, real-time tours and visualizations are being used to advertise the apartments for rent. For example, interested parties can simulate the sun’s specific path for a particular apartment and obtain a comprehensive picture. Additional applications can be tested interactively at www.alte-landstrasse-kloten.ch.

Key Take aways:

Project on Alte Landstrasse in Kloten with an investment volume of approximately CHF 50 million has created additional living space within the highly sought-after urban area of Zurich.
The higher tenant densification achieved by remodeling the building offers an attractive opportunity to increase the earnings of UBS «Anfos» over the long term.
The renovation will rejuvenate the portfolio while achieving positive portfolio growth in line with our sustainability objectives.