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Address: Guestener Weg 10,11, 12, 13,
State: Germany
Price: £49,000
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AD Number: 167
Status: Active
Cost to buy it now: £49,000
Sale or Auction?: SOLD
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Full Description: 21 APARTMENT DEVELOPMENT
Outstanding Development/Investment potential
Neundorf is situated approx. 2 miles south from the main town of Strassfurt. The federal road B 6 is approx. 1.5 miles away and the motorway BAB 14 approx. 8 miles. The properties are approx. 50 miles N/W from the cultural city of Leipzig and approx. 95 miles S/W from the capital, Berlin. Both these cities have 2 international airports serviced daily with budget flights from the UK The property is situated between Neundorf and Strassfurt at a closed train station which is now used as a railway museum. The property occupies a nice quiet position in the outskirts of town with nice rural views.
The property consists of two large detached apartment blocks with large detached out houses and garages sitting on a huge plot. Two of the unfinished apartments are currently Let and provide a Net income of approx. 3156E per annum (for the areas Let)
Block 10,11 is sitting on a land plot of approx. 3049 m2
Block 12,13 is sitting on a plot of approx. 3818 m2
Both blocks have very large undeveloped roof spaces and large cellars. The roof spaces could easily be converted into 3 or 4 apartments on each block. The rear outhouses could also be developed into housing and the large rear plots also have the potential for residential development.
Both apartments blocks have had all of the apartments fitted with new pvc double glazed windows. The property was partially renovated in 1995 and then
in 2007 major renovation works were commenced. so far the roofs and drainage on both units was refurbished at a cost of 13,000 Euros,
Also complete New Renewed biological three-chamber sewage plant has already been fitted. In block 11, renovations within have already commenced including plastering, stripping out and the creating of three large apartments from 6.
Current Apartment sizes are as follows;
11: Three apartments of approx. 1171 ft2, 1170 ft2 and 1035 ft2
10: Six apartments of approx. 609 ft2, 561 ft2, 666ft2, 503 ft2, 567 ft2, 468 ft2
13: Six apartments of approx. 609 ft2, 561 ft2, 666ft2, 503 ft2, 567 ft2, 468 ft2
12: Six apartments of approx. 609 ft2, 561 ft2, 666ft2, 503 ft2, 567 ft2, 468 ft2
The apartments alone have a total floor space of approx. 1250 mt2 (13 450 ft2)
To the main buildings Completion works would include electric's, sanitary, heating system, plumbing, plastering, decorating, flooring, etc.
On completion we believe that this would have excellent rental potential and the apartments would rent between 4-5.00 per mt2 depending on finish which could give an annual income of approx. 75,000 Euros (approx. £70,000 at todays exchange rate) if fully let.
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Listed by: EU Investments
Phone: 01234 852600
Mobile: 01234 852600
Fax: 01234 852301
Homepage: http://www.euinvestments.co.uk
Info: For more infomation, Please Contact the office, we are always happy to help.
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