New residential building in the federal state of North Rhine Westfalia.
Description
The building with a total area of 7,000 m²:
- commercial premises of 4,000 m² (the lower 3 floors);
- residential units (27 apartments) of 3,000 m².
There is a garage.
Construction start — 2023.
Completion — 2025.
The expected annual income is 1,250,000 €.
The expected yield is 4%.
The commercial premises are let. The anchor tenants are famous chain stores and a supermarket.
Notary (state registration) is 1.5 – 2%.
Acquisition tax is 3.5%.
Brokerage fee is 6% + VAT 19% (total 7.14%).
The property is located in the federal state of North Rhine Westfalia, in a city with a population of about 20,000 inhabitants.
North Rhine-Westphalia is the land of the Federal Republic of Germany with a population of 17.5 million people (the most populated of the German lands). It ranks 4th in Germany in terms of area.
22% of Germany’s GDP comes from NRW. The main industry in NRW is engineering and equipment manufacturing, biotechnology, chemical industry, and etc.
North Rhine-Westphalia is the center of trade in Germany, because it houses the headquarters of several leading German trading concerns with the largest turnover, for example, Deutsche Telekom AG, ALDI NORD, Die Deutsche Post, Bayer, Lufthansa Group, REWE. DE.