6 Earnings from sale of investment real estate
CHF million |
| 1st half-year |
| 1st half-year |
|
|
|
|
|
Proceeds from sale |
| 100.4 |
| 88.5 |
Transaction costs on sale |
| –1.6 |
| –0.3 |
Balance sheet value = market value on 31 December of the previous year |
| –93.2 |
| –69.8 |
Earnings from sale of investment real estate |
| 5.6 |
| 18.4 |
As at 1 March 2016, the commercial properties Lagerstrasse 41/45 in Zurich (target rental income of CHF 2.6 million p.a.), Max Högger-Strasse 2 in Zurich (target rental income of CHF 1.5 million p.a.) and Alte Dübendorferstrasse 17 in Dietlikon (target rental income of CHF 1.2 million p.a.) were sold. As at 1 April 2016, Allreal sold the leasehold commercial property Badenerstrasse 141 (target rental income CHF 0.9 million p.a.). After deduction of transaction costs, the sale of these properties resulted in total earnings of CHF 5.6 million on selling prices of CHF 100.4 million.
In the first half of 2015, the sale of two properties produced earnings of CHF 18.4 million.