Andermatt Swiss Alps
Harrods Estates is delighted to bring Andermatt Swiss Alps to London.
Andermatt will be a launching at the Harrods Luxury Property Showcase on the Second Floor in Harrods in January 2018. To register your interest please contact Christian De Meillac
The largest new resort development under construction in Switzerland, Andermatt Swiss Alps is a 350 acre/ 1.4 million sq m site in the beautiful Urseren valley adjacent to the historic village of Andermatt, located in the Saint Gotthard Massif close to the border with Italy at 1,447m above sea level.
The development will include six 4- and 5-star hotels, 500 apartments across 42 exclusive buildings, 25 individual luxury chalets, a shopping promenade with restaurants, an 18-hole championship golf course, a sports centre with wellness services, concert hall and event facilities, and underground car parks.
The Chedi Andermatt hotel at the centre of the development opened in 2014 to international acclaim and has subsequently won many awards. The Gotthard Residences are set to open in 2018. Completion of the entire development is expected by 2027.
The extensive ski facilities at Andermatt are in the process of being comprehensively modernised and upgraded with new runs, amenities and lifts. They will be connected with the neighbouring ski area of Sedrun to create a first-class ski arena. This well-serviced facility will have around 120 kilometres of superb slopes designed to satisfy and challenge skiers of all abilities.
Every building in the new resort has been individually designed by one out of 30 selected Swiss and international architects. To maintain a perfectly harmonious and peaceful environment the resort will be a car-free zone and underground parking spaces are provided for visitors and residents. A new railway station will be constructed along with a system of ‘magic carpet’ transporters linking the development with ski lifts.
Freehold Ownership without restrictions
Swiss Federal law prevents foreigners from acquiring residential property in Switzerland without a permit. The 21 December 2007 decision by the Swiss Federal Council granted The Chedi Andermatt an exemption from the terms of the Lex Koller Act, giving international buyers the rare opportunity to buy residential property in Switzerland with no restrictions. Accordingly, foreign and Swiss buyers are now granted identical, unrestricted rights and obligations to buy residences within The Chedi Andermatt project. The Chedi Andermatt project is also excluded from the scope of the Second home Initiative, adopted by the Swiss electorate in 2012. This provides that holiday homes may not represent more than 20% of total residences in any single commune. If the current proportion in a community already exceeds this figure, no more building permits will be granted for second homes.
Arrangements have been made with leading Swiss banks to provide financing to qualified buyers at attractive interest rates. The typical loan to value (LTV) rate is 50 to 60% of the purchase price, although the actual LTV is determined at the bank’s discretion.
Andermatt Swiss Alps is responsible for the development, planning, implementation and operation of the newly integrated holiday resort in the Swiss mountain village of Andermatt. The company, based in Altdorf, canton Uri, now employs around 50 people. Andermatt Swiss Alps is owned by Orascom Development Holding AG a partner with extensive experience in the development of integrated holiday resorts.