Basel: Canton owns real estate worth 2.74 billion
As of the end of 2019, the canton of Basel-Stadt has real estate worth around CHF 2.74 billion in its portfolio, around CHF 231 million more than in the previous year. The portfolio was increased by acquisitions, such as the Syngenta site.
Immobilien Basel-Stadt puts the total return of the real estate portfolio in the financial assets for 2019 at 7.2%, with the net cash flow return at 4.3% (-0.5% compared to the previous year) and the change in value return at 2.9% (+2.4%). According to the government council, the reasons for the increased return on changes in value include valuation gains from newly concluded and adjusted building lease agreements, new leases following refurbishments and a high proportion of value-preserving investments.
A particular focus in 2019, he said, is on the implementation of the 1000+ housing program, which envisions more than 1,000 new affordable apartments in financial assets by 2035. Currently, there are about 2,000 apartments in financial assets, which is a share of about 2% of the total housing stock in the canton. In 2019, the staged expansion of the Hirtenweg superstructure by a total of 31 apartments was commissioned, with the first apartments ready for occupation in 2020. Also in the past year, planning for the renovation and expansion of the Rhyacker development was awarded. Site developments for the realization of new residential space are currently underway on the Lysbüchel (Volta Nord), Am Walkeweg and Rosental Mitte sites. In addition to building lease payments to cooperatives, the canton's own investments are planned for all sites.
The canton is also investing in commercial areas: in 2016 it acquired the Rosental Mitte site, which is to be transformed into a city district, and the Syngenta site as of 2019. This gives the canton a large-scale business site with potential for densification. The ELYS conversion project on the Lysbüchel site is also creating large rental areas for culture, leisure, education and commerce. (ah)
