6 Earnings from sale of investment real estate
CHF million |
| 1st half-year |
| 1st half-year |
|
|
|
|
|
Proceeds from sale |
| 88.5 |
| 7.0 |
Transaction costs on sale |
| –0.3 |
| –0.2 |
Balance sheet value = market value on 31.12 of the previous year |
| –69.8 |
| –5.9 |
Earnings from sale of investment real estate |
| 18.4 |
| 0.9 |
As at 1 March 2015, the residential properties Im Lindenhof 7/9/11 in Effretikon (target rental income of CHF 0.4 million p.a.) were sold and as at 1 April 2015, the commercial property Eggbühlstrasse 21–25 in Zurich (target rental income CHF 4.7 million p.a.) was sold. After deduction of transaction costs, the sale resulted in total earnings of CHF 18.4 million on a selling price of CHF 88.5 million.
In the first half of 2014, the sale of one property produced earnings of CHF 0.9 million.