Kriemhildplatz 10

 Development loan
Vienna,
Austria
4.25%
Annual yield
-
LTV
Term: 48 months
Mortgage rank:
Second
Interest payment schedule:
Quarterly

Descripton

Project Presentation

The 'Kriemhildplatz 10' property is an almost fully let apartment building in a central location in 1150 Vienna. The apartment building from the turn of the century comprises 22 rental units with 1,775,45 sqm of letable space. In total, annual net rental income of approximately EUR 155,000 is currently generated.

The apartment building is surrounded by all important amenities for daily needs and is excellently connected to the public transport network due to its proximity to the underground station Burggasse-Stadthalle and the Westbahnhof (underground lines, Westbahn, regional trains, local public transport). By car you can reach the city centre of Vienna in a few minutes and at the same time take the west exit towards Linz and Salzburg.

Deal Highlights

Inflation-protected rental income of about €155,000 per year

The annual net rental income currently amounts to around €155,000. All leases are indexed and inflation protected. Further increases in rental income are expected through a reduction in vacancies and new rentals at market rents.

Long-term income from indefinite rental agreements

Rental income consists of a large number of long-term, unlimited rental agreements. The secure predictability of rental income and the risk diversification due to the large number of tenants make the Kriemhildplatz project a unique opportunity for risk-averse investors.

Regular additional income - 4.25% p.a. Distribution every 3 months

Investors receive quarterly distributions of 4.25% p.a. on their invested capital during the term. The invested capital is repaid to the investors at the end of the term.

Experienced property owner – Velum Real Estate Group

The Velum Group has a portfolio of around 1,000 units in the Vienna area; the owners have been active in the market for 15 years and see themselves primarily as portfolio owners and landlords.

Central location in the 15th district

The 15th district in Vienna is characterised by its proximity to the popular shopping street Mariahilfer Einkaufsstraße and the event centre Wiener Stadthalle. The nearby Westbahnhof with the underground lines U3 and U5 as well as several tram and express train connections offers a first-class connection to the city's public transport system.

Investment-Case

For the purpose of partial financing, Velum GmbH intends to raise qualified subordinated loans of up to € 600,000.

The borrower is the landowner of the property with the property address Kriemhildplatz 10, 1150 Vienna. The apartment building comprises 22 rental units with 1,775.45 sqm of letable space. In total, annual net rental income of approximately EUR 155,000 is currently generated.

The property was purchased in 2013 using borrowed capital and own funds. The aim of the crowd investing campaign is to partially repay the equity capital invested.

Quarterly distributions

During the term, the lender receives a quarterly distribution of 4.25% p.a.

Rendity interest deposit

The Rendity interest deposit serves to hedge our investors. Before the start of each project, the respective borrower has to deposit an interest-deposit in the amount of the interest of half a year on a separate escrow account. The interest deposit deposited by the borrower is subject to fiduciary custody and may be used exclusively to compensate for unpaid interest payments or missing capital repayments to the investors.

Location

The 15th district, also known as 'Rudolfsheim Fünfhaus', is located west of the city centre of Vienna. In addition to its excellent infrastructure with numerous local suppliers, shopping streets and transport connections, the 15th district is especially popular for its proximity to the old town. The Mariahilfer Straße with its endless shops, restaurants and cafés, the outer end of which belongs to the 15th district, is especially well known.

Historically, after the second Turkish siege, the villages of Reindorf, Braunhirschen and Rustendorf were built, which were united in 1863 to form the municipality of Rudolfsheim, east of which was a five-house, south of which was a six-house. In 1890 the three communities were incorporated. In the later NS time Rudolfsheim as well as Fünfhaus were united to the 15th district, from 1957 the 15th district got its today's name 'Rudolfsheim-Fünfhaus'. Today, the 15th district is part of an up-and-coming district, centrally located and offering the best infrastructure and necessities for daily needs.

Discover the surroundings

The 15th district in Vienna, also known as Rudolfsheim-Fünfhaus, is located west of the city centre of Vienna and is distinguished above all by its proximity to the city centre. The 15th district has an excellent infrastructure with numerous local suppliers, shopping streets and transport connections, as well as the Westbahnhof and the Stadthalle. The underground station Gumpendorferstraße is only a few minutes' walk away. Vienna Schwechat Airport is located 30 minutes by car to the south-east and numerous recreational areas including vineyards and wine taverns can be reached to the north.

Mariahilfer Straße

The outermost part of Vienna's most famous shopping street, Mariahilfer Strasse, is located in the 15th district and serves as a direct connection from the Westbahnhof to the city centre. As the longest shopping street in Europe, Mariahilfer Straße stretches over almost 4 kilometres, on which many international brand shops can be found and which is also dedicated in sections as a pedestrian zone. The inner Mariahilfer Straße was already a special shopping street of the k.u.k. in the past. Monarchy and still today this local supplier. In the meantime it has established itself as the centre of Vienna's young and hip scene.

Wiener Stadthalle

The Wiener Stadthalle is the largest event centre in Austria and one of the leading event locations in Europe. In total, the Vienna Stadthalle comprises six venues and a large sports area including a swimming pool and ice rink. More than 300 events are held here every year; from international top acts, the ATP tour stop 'Erste Bank Open', to cabaret and musicals, there is something for every taste.

Westbahnhof

The Westbahnhof is an important traffic junction from which the Westbahn travels to numerous Austrian provinces and cities. Numerous underground and tram lines also stop here. Underground is a shopping centre with restaurants, above ground the Mariahilfer Straße in front of the station building in west-east direction provides a direct connection to the city centre.

Schloss Schönbrunn

Schönbrunn Palace is the largest palace and one of the most important and most visited cultural assets in Austria. Schönbrunn Palace and its 160-hectare park are UNESCO World Heritage Sites. Under Empress Maria Theresia, Schönbrunn Palace attained its present form and served as the summer residence of the Austrian imperial family from the middle of the 18th century until the end of the First World War. During this time, the castle was almost continuously inhabited by a court consisting of several hundred people and became a cultural and political centre of the Habsburg Empire. During the Austro-Hungarian Monarchy it was also called 'k.u.k. Lustschloss Schönbrunn'. The spacious surrounding park can be used for extensive walks and long laps.

Project originated by:

Documentation

4.25%
Annual yield
-
LTV
Term: 48 months
Mortgage rank:
Second
Interest payment schedule:
Quarterly