July 2024 Edition

Three new construction projects in the Canton of Zurich

UBS Direct Residential

Immo Update 15 Jul 2024 5 min read

By Real Estate Switzerland team

UBS Direct Residential is successfully expanding its portfolio. Rental activities have started for the replacement new buildings in Zürich-Schwamendingen and Niederhasli. Another project on Wehntalerstrasse in Zürich-Affoltern is in the approval phase.

Attractive residential and outdoor living spaces including extending the village square in Niederhasli

In addition to three residential properties and a residential and commercial building, the project in Niederhasli to the north of Zurich also includes the redesign and expansion of the village square. This will reinforce the square's function as a center, which has long been the intention. The planning was carried out in close cooperation with the municipality.
The northern half of the site is occupied by three residential buildings with wooden facades, which span different, courtyard-like spaces. Adjacent to the town square, a mixed-use building is being built that opens up onto the square and offers high-quality commercial space on the ground floor, while the upper floors are primarily intended for apartments.

This will create a total of 65 apartments and almost 900 m² of commercial space, above a storage area and garage with 67 parking spaces. The property will generate heat via a heat pump with geothermal probes. The new construction project has already been pre-certified by SGNI Gold¹. The investment volume amounts to around CHF 42 million and tenants are expected to move in June 2025. The rental activities have already started successfully.

More at: www.zentrumweg-niederhasli.ch

Redevelopment in an extremely popular residential location in Zürich-Schwamendingen

Replacement new buildings in Niederhasli (ZH) (picture above) and Zürich-Schwamendingen (visualisations)

Two new buildings constructed in wood with modern floor plans and a mix of apartment sizes to suit the market are being built at Stettbacherrain. The two new buildings offer a total of 45 apartments with 1.5 to 4.5 rooms. At the heart of the two buildings is a central square that connects not only the two entrances of the buildings but also provides an open space for residents to interact with the rest of the neighborhood.

The new construction project has been pre-certified by SGNI Gold¹: The property will generate heat via a heat pump with geothermal probes. In addition, the waste heat from shower waste water will be recovered for water heating. A photovoltaic system to supplement the power supply is planned on the main roof.

The aim is for this redevelopment project, with an investment volume of around CHF 30 million, to be completed by mid-2025 ready for tenants to move in. Here too, the rental activities have started: www.stettbacherrain.ch

New construction planned in Zürich-Affoltern

The existing residential buildings at Wehntalerstrasse 580, 582, and 584 date back to 1954 and currently house 27 apartments. The new development comprising 45 units will expand the housing offering in Zurich. The wood-hybrid construction will meet modern architectural and environmental standards. The building will be optimised with regard to noise protection and accessibility. The project has been carefully reviewed in a competition and was commended for its approach and quality.

The project has an investment volume of around CHF 25 million and is currently in the approval phase. Construction is planned to start in the third quarter of 2025 with the first step being the dismantling of the existing buildings. Completion is scheduled for the third quarter of 2027.

1. SGNI (Swiss Sustainability Building Council)

Key Take-aways:

The qualitative development of inner potential through targeted renovation and reconsolidation measures is a core element of UBS Direct Residential's strategy.
Our project pipeline offers very good opportunities to rejuvenate the portfolio in popular residential locations and further expand the revenue base.
The new construction projects consolidate the fund's commitment in the Canton of Zurich.