Kolmstr 7 390,00 Euro Investment Opportunity 780 sqm â€“ Potential 11.7% Yield
Property Description: This is a purely residential and commercial offer, situated in the desirable district of Stoetteritz. The unit consists of 11 residential units in the front building and 1 commercial unit in the rear of the courtyard. The residential units vary in size from 27 to 73 sqm and the commercial unit is 188 sqm. Currently, the front building is in a good state of refurbishment and the internal of the apartments have recently undergone a scheme of refurbishment. The last of these refurbishments will be complete by end of July. There are 5 remaining units to lease in the front building and these tenancy agreements can be in place at the time of purchase, providing a yield of 11.77%. The rear building is signed on a commercial tenancy agreement and is in very good refurbished order.
PV 207 â€“ Kolmstr Investment Overview: This well-refurbished property, which will be delivered fully-tenanted, should be of interest to a variety of investors. The location is perhaps the greatest draw and the demand for rental here should underpin the success of the investment. The property should present well for finance. Property Potential: Once the property is tenanted, there lies 3 areas for future potential with this property. Firstly, a programme of rental reviews should take place on the existing tenancies with an aim of achieving a range of 4.8-5.2 Eur psm which is achievable in this area. Secondly, the installation of balconies should be considered to the rear of the front building. This will further increase the appeal of these units and the rental potential. The cost of such a project would be circa 22.000 Eur. Finally, the attic space lends itself very well to being refurbished into 2 attic apartments. This would be consistent with other buildings in this area and would create the most desirable units in the building. Such a project would cost around 32.000 Eur. The resultant yield after such work, including costs, will be well in excess of 12%. Investor Profile: This unit will appeal to an investor looking to secure a unit at a good price in a very good location. Perhaps the potential with the improvement works outlined above, the properties potential would be most easily maximised by an investor with some knowledge of building projects. In terms of finance, the property offers little risk and should present well to banks. Finance of a level between 70-80% should be expected, depending on client status and bank chosen.
Financial Information: Guide Price [subject to negotiation] Current Rental (annual) Current Yield (%) Potential Yield (%) Agent Fees Year of Construction Total Living Area m2 Price m2
390.000 Euro 24.100 Euro 9.85% (when last units tenanted prior to purchase) 10+% 2.5% + vat 1897 986 sqm 395 Euro
Additional Pictures: Rear Of Front Building
About Proventure We are a company working with a range of the very best German agents. We have offices in Grantham in the UK and in Germany. As professional property investors ourselves, our strategy for investing is simple and is based on solid fundamentals delivering cashflow positive property. With over 15 years' experience of investing in the European market: We began to focus on Germany 5 years ago; Berlin being the first city that we invested in. Once established there, we began to look further afield and discovered more hotspots in Germany that met our exacting criteria. So why are we doing this? We now have invested in a significant portfolio of German property and have been through the long (and occasionally painful!) process of due diligence to ensure that we have the right locations, the right properties for the right price, the right people to trust and the right finance available. Through our contacts we now have access to many properties not yet on the the open market. We want to meet, and work, with people like you (well you have read this far - so you might be interested in property investment!) and assist you to make some solid investments in the German market. We promise to deliver unbeatable property in an unbeatable way. To ensure we do this, we offer our guarantee below: Our 10-point Guarantee To You: 1. We will offer you the very best deals currently in the market place. 2. We will attend to every aspect concerning research and subsequent purchase, according to your needs. 3. We will assist you in finding the most competitive finance deals available, subject to status. 4. We will communicate with you regularly as progress towards purchase is made, every step of the way. 5. We will deal with your case in a confidential manner, as you would expect. 6. We will produce property management plans to maximise your return. 7. Our fees made to you will be fully open and very competitive, up to half of the charges made by our competition. 8. We will be with you after purchase, to attend to any matters as long as you require. 9. We will offer full management of your investment at very competitive rates, as you require. 10.We ask each customer for feedback and share this feedback â€“ our reputation is the key of our business.
Please get in touch if you require any further information
Published on Jul 2, 2009
Published on Jul 2, 2009
Ref: PV207 This is a purely residential and commercial offer, situated in the desirable district of Stoetteritz. The unit consists of 11 res...