Allianz Suisse plans major project in Muri
Allianz Suisse plans to build a development with almost 200 apartments as well as office and commercial space on the former Luwa site in Muri (AG). The investment volume is CHF 100 million, making it Allianz Suisse's second-largest construction project to date.
By the end of 2019, a total of 197 rental apartments as well as office and commercial space will be built on the site of the former Luwa ventilation systems and apparatus factory on a total area of around 21,000 square meters. The old industrial hall at the center of the development will be preserved and used in the future as a cultural and event hall, community room, restaurant and studio.
The Luwa site was developed by Feldmann-Immobilien AG and is being realized by a joint venture between Feldmann-Baumanagement AG and Brun AG.
According to Allianz Suisse, rents for the 1.5- to 4.5-room apartments will be in the lower to medium price range.
The project in Muri is being built to the latest Minergie standard and has a photovoltaic system to generate its own electricity. Heat is generated by wood chips and a heat pump powered by solar electricity. Tenants also have access to 800 bicycle parking spaces.
Second largest investment of Allianz Suisse
The investment in Muri is Allianz Suisse Immobilien AG's second largest to date. Last year, the company acquired the sue&til residential project on the former Sulzer site in Winterhur for around CHF 135 million. Allianz Suisse currently holds a real estate portfolio of around CHF four billion.
"In view of the tightened interest rate situation and the low return prospects on the capital markets, real estate is a very attractive alternative for us - as a long-term investor," says Martin Kaleja, CEO of Allianz Suisse Immobilien AG. "In addition, Muri has a high quality of life thanks to its optimal location in terms of transport with short distances to Aarau, Lucerne, Zug or Zurich, which is particularly attractive for families." (ah)
