As there were no appeals to the responsible court following the public launch, the private design plan «AuPark» became legally binding. Intershop intends to submit a building application later this year.
Following examination of the partial revision to the utilization plan and the associated private design plan by the Building Department of the Canton of Zurich, the local council published the plans together with the approval for public review.
With this legally binding design plan, the final condition of the land purchase agreement with the Canton of Zurich has now been fulfilled. However ownership of the plot of approximately one quarter of the total site can only be transferred once, amongst others, approval has been granted for the demolition and such works have been successfully completed.
«AuPark» is a development site of the Intershop Group. In addition to the cantonal school on the left bank of Lake Zurich, more than 200 new apartments are to be built, as well as additional commercial and community shopping spaces. A spacious public park with a playground is planned in the middle of the site as a connecting element and attractive meeting zone for the population of Au. For further information visit the website www.aupark.ch.
Intershop is a real estate company listed on the SIX Swiss Exchange and active in Switzerland, which invests principally in commercial properties. As per 31/12/2019 its portfolio comprised 54 properties with a lettable area of 566,000 m2 and a market value of some 1.3 billion Swiss francs. Intershop invests mainly in the Zurich area, around Lac Leman and along the main traffic arteries. Its portfolio combines high yields with security, thanks to diversification by geography and type of use, with considerable potential for value appreciation in the properties with development potential.
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