USTER
Zurich, Switzerland

This ground-up development project in Uster is located in Wermatswil, Canton Zurich. Bordering open agricultural land and a protected recreation area of fields and forests, the site pairs a peaceful, semi-rural setting with strong everyday connectivity.

Shops and public transport are just a few steps away, while Uster's train station, Zurich's main station, and the airport are all easily reached within half an hour, making the location as practical as it is scenic.

Set in a municipality known for its tight housing market, the development offers a rare opportunity to deliver much-needed new homes in a well-connected, high-demand corner of the Zurich Oberland.

Project Overview

Project Name

Uster, Zurich, Switzerland

Location

Uster, Zürich, Switzerland

Asset Class

Residential – apartments and terraced houses

Investment Strategy

Opportunistic (Development / New Build)

Status

Under construction; targeted completion Q4 2028

Location & Context

City / Country

Uster, Switzerland

Submarket / Area

Wermatswil, Bezirk Uster, Canton Zürich

Market Insight

Well-connected within the Zürich commuter belt, the location sits at the intersection of strong owner-occupier demand, a near-zero vacancy rate and one of the highest purchasing power levels in the region.

Asset Details

Previous use

Existing building on a land plot; structure demolished to enable ground-up development

Target use

Ground-up residential development (apartments and terraced houses, family-oriented, owner-occupier)

Asset Composition

17 apartments (MFH) and 7 terraced houses (RFH), totalling 24 units across a 6,000 sqm land plot, with 27 underground parking spaces. Family-oriented units ranging from 3.5 to 4.5 rooms (~95-115 sqm).

Size (sqm)

~2,500-3,000 sqm GFA (subject to final authority approval); 6,000 sqm land plot

Units / Keys

24 units (17 apartments + 7 terraced houses) + 27 underground parking spaces

Investment Strategy

Strategy Type

Opportunistic (Development / New Build)

Strategy Description

Ground-up construction following demolition of the existing structure and successful permitting. The scheme delivers 24 family-sized residential units across apartment and terraced house typologies, with underground parking, on a 6,000 sqm site bordering open countryside and recreational land. Total development timeline of 36 months.

Exit Strategy

Individual unit sales to owner-occupier buyers at a target price of ~CHF 12,000/sqm. 27 underground parking spaces sold separately at CHF 40,000 per space. Total projected revenue: CHF ~29.2M.

Value Creation Highlights

Ground-up development on a fully permitted site, with existing structure cleared and construction underway ahead of Q4 2028 delivery target.

Family-oriented unit mix directly addresses strong owner-occupier demand in the Zürich commuter belt.

High-purchasing-power catchment of CHF 51,223 per capita in Canton Zürich (index 114.6) supports premium pricing at ~CHF 12,000/sqm.

Site directly adjacent to open farmland and recreational woodland, offering a quality-of-life proposition rarely available at this proximity to Zürich.