Construction of a 3-storey 15-apartment building in the port city of Bremerhaven in the north of Germany.
Description
The essence of the project: the purchase of a site, obtaining a permit for the construction of a 15-apartment building, the sale of apartments.
Project term: 18 months.
Financial performance
The required investment is 1,760,038 €.
LTV — 62%.
The project costs are 4,681,648 €.
Sales price is 5,457,000 €.
Profit before tax 747,374 €.
Investor's profit 532,090 €.
Investor IRR 27.1%
Cash on cash 20% per annum.
Location
The basic information about the location of Bremerhaven:
- The fifth-largest port in Europe
- One of the TOP-10 High Tech research laboratories
- Manufacture of wind power stations
- Developed fishing industry
- The city hosts regattas and large-scale events for yacht owners
- Tendency of population growth + 15% since 2009
- The decrease in unemployment since 2009 by 12%
- Tourism growth — more than 1M people visited Bremerhaven in 2017.
- Combination of potential for growth in the value of real estate with high return on investment
