UBS Foncipars redevelops La Tourelle in Geneva
The UBS Foncipars real estate fund plans to completely renovate its properties in the La Tourelle development in Geneva starting next year. The investment volume is estimated at around CHF 50 million.
The 419 apartments on Chemin Duboule Moïse, Chemin Colladon and Chemin du Champs-d'Anier in Geneva, are part of an ensemble of four distinctive blocks of buildings constructed between 1968 and 1971 and owned by UBS Foncipars since then.
According to the fund, which focuses on residential properties in western Switzerland, the listed properties are to undergo a classic complete renovation from summer 2021. Bathrooms, kitchens and entrance areas of the properties will be renovated, while the main focus will be on refurbishing the technical installations and optimizing the energy balance of the buildings.
According to the information, this includes additional insulation of the flat roofs, improvements to the building envelope and a large-scale photovoltaic system. Completion of the renovation work is planned for the end of 2023. The buildings will then be certified with the Minergie Renovation label and the SNBS Gold label. (ah)
