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Invest project of an apartment house in a historic building

11,353,000 €
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Total area: 6,475 m² Yield: 5.0% Built in 1939
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Features
  • Operating Incomе: 650,000 €
  • Number of parking lots: 105

Historic building on the banks of the Elbe in Magdeburg.

Total area is 6,475 m².

Description

The proposed building has been used as a port warehouse for sugar and grains just a few years ago. Now the project includes rebuilding home for apartment house. The work will begin only after the conclusion of the contract so the buyer has all the possibilities to implement their own ideas. There can be realized up to 99 apartments from one to five rooms. It is possible to develop the economy version, aimed specifically at students and staff of the nearby center of science or the ability to create lofts with luxury furnishing.

Equipment

Heating is provided by the principle of ”warm floor“, there are plastered walls and ceiling, built-in ceiling lights bathrooms and corridors, showers without pallet with walls made of high-strength glass. The building will comply with all current environmental requirements after the completion of the work.

Project

There will be a contract between the customer (buyer) and the contractor to perform work on the conversion of a building to house the apartments. Works are carried out by German contractor with an excellent reputation. Payment is carried out as work progresses. Final price, the number of apartments and living area may vary depending on the concluded agreement. There are special tax benefits for this project. The buyer can write down 75% of the building cost in 12 years.

Yield

  • The calculation of rental income is based on the price of 7.80 € per m² + income from the rental of parking spaces (35 €/month for one place).
  • The cost of the project is designed by taking into account 1650 €/m².
  • Parking: 66 floor spaces (5,000 € per unit) and 39 underground spaces (9,500 € per unit).
  • The projected yield of about 5,6%.

Sale commission of 3,56%.

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Anna Kurianovich
Anna Kurianovich
Investment Consultant
+44 20 3608 1267
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    • Bank financing from 1.5% annually
    • Construction site audits
    • Management company services