The project for expansion of the existing nursing house.
Description
The nursing house will include 126 apartments, the total area will be 16,688 m².
Permission to build is scheduled to be received in July 2019. Construction will take about 15 months, i. e. the property will be commissioned in the 4th quarter of 2020.
Financial performance
The absolute annual income is 1,221,621 €.
The current yield is 5,4%.
Tenants
The lease agreement is valid for 20 years.
Transaction costs
Notary (state registration) is 1,5 – 2%.
Acquisition tax is 5%.
Brokerage fee is 4% + VAT 19% (total 4,76%).
Location
The property is located in the federal state of Saxony-Anhalt, in a city with a population of more than 15,000 people.
