The property at 'Wunstorfer Strasse 33' is a fully let apartment building in a good location in Hanover. The well-maintained existing building comprises 14 rental units (12 residential units and 2 commercial units) with a total floor space of approx. 1,288 m². It currently generates a net annual rent of approximately EUR 118,000, which corresponds to a net rent of just under EUR 7.6/m².
Note in times of the coronavirus
Affordable residential properties in urban locations have proven to be in a better position than other asset classes in earlier economically difficult phases, as living space is a basic human need. Further information about COVID-19.
The existing building is surrounded by all-important amenities for daily needs and is excellently connected to Hanover's public transport network thanks to its proximity to the Wunstorfer Strasse underground station. By car, it takes only a few minutes to reach the city center of Hanover and about 20 minutes to reach Hanover airport.
Hanover is the capital of the state of Lower Saxony and is the 13th largest city in Germany with about 540,000 inhabitants. Hanover is an important business location and a supra-regionally important shopping city. The cultural scene is considered to be diverse, with numerous and in part internationally renowned theatres and museums. The cityscape is characterized by numerous public green spaces, a high density of street art and numerous architectural monuments.
The annual net rental income currently amounts to € 118,000, which corresponds to a sustainable net rent of just under € 7.6/m² that is customary for the location. In view of the good location within Hanover and the immediate vicinity of the underground station, a low vacancy rate is expected in the coming years.
The well-preserved existing building has a usable floor space of approx. 1,288 m² divided into 14 rental units. The majority of these rental units are used as apartments (12), and only two of them are used as commercial space. About 80% of the rental income therefore comes from crisis-resistant residential rents, which are characterized by a low risk of default.
Investors receive immediate interest from the time they pay in their investment, which is paid out at the end of the subscription period. With the Rendity Sofortzin, investors receive interest for their invested capital not only for the loan term, but also for the time before. This means that investors also receive interest on their investment during the subscription period. The immediate yield is paid out to the Wallet after the end of the subscription period.
Investors receive quarterly distributions of 4.50% p.a. on their invested capital during the term of the investment. The invested capital is repaid to the investors at the end of the term.
Germany is the largest economy in Europe and in recent years has developed into the second-largest real estate investment market in the world. In addition to national investors, there is now an increasing number of international investors who have confidence in the German business location.
Experienced real estate investor
Behind the borrower is the founder of the Velum Group, a real estate company with a portfolio of approximately 1,000 units and more than 15 years of real estate experience in Austria and Germany.
The Rendity interest portfolio serves to secure our investors. Before the start of each project, the respective borrower has to pay an interest deposit in the amount of the interest of half a year into a separate escrow account. The interest deposit deposited by the borrower is subject to fiduciary custody and may only be used to compensate investors for interest payments not made or missing capital repayments.
For the purpose of partial refinancing, Lares Grundbesitz Hannover GmbH intends to raise qualified subordinated loans of up to € 600,000.
The borrower is the owner of the property with the address Wunstorfer Strasse 33, 30453 Hanover. The apartment building comprises 14 rentable units with a total floor space of 1,288 m². Annual net rental income of roughly EUR 118,000 is currently generated, which corresponds to a local rent of EUR 7.6/m².
The house is part of the existing portfolio of Lares Grundbesitz Hannover GmbH, which currently consists of 11 apartment buildings, all located in Hanover. In total, the portfolio comprises 10,619 m² of usable space divided into 155 lettable units. The majority of the portfolio is residential (9,382 m²), the remaining 1,237 m² is commercial. The portfolio currently generates annual net rent of roughly EUR 970,000 and has a fair value of EUR 18,443,000. The financing structure of the portfolio on the banking side consists of variable and fixed-interest mortgage loans.
During the holding period, the owner will optimize the portfolio. In addition to technical improvements (such as conversion, extension and expansion measures), beautification measures, this also includes increasing income in the form of legally permissible rent increases or new lettings. After the successfully completed optimization phase, the existing building at Wunstorfer Strasse 33 is to be sold by 2023 at the latest, ideally at a lower return - i.e. at a higher absolute price in relation to the rental income - than the purchase was previously made or refinanced.
Purchase Price: €1.255.000
Purchase additional charges: €81.575
Total Investment: €1.336.575
Total usable area: 1.288m²
Occupancy rate: 100%
Annual net rental income: €118.000
Hanover is the capital of the state of Lower Saxony. Situated on the southern edge of the North German lowlands on the rivers Leine and Ihme, the town was first mentioned in 1150 and received its town charter in 1241. Since 1875, Hanover has been called a major city and with 543,300 inhabitants (end of 2019) is one of the 15 most populous cities in Germany.
Hanover is an important business location and a supra-regionally important shopping city. The cultural scene is considered to be diverse, with numerous and in part internationally renowned theatres and museums. Numerous international theatre, music and dance festivals take place annually. Since 2014 Hannover is a UNESCO City of Music. The cityscape is characterized by numerous public green spaces, a high density of street art and numerous architectural monuments, including representative buildings of the North German Brick Gothic, the Hanoverian School of Architecture, Brick Expressionism, Art Nouveau and classicist buildings by Georg Ludwig Friedrich Laves. While post-war buildings dominate in the city center, many districts have a considerable stock of old buildings and maintain their own identities.
The Hanover Adventure Zoo, the Maschsee Lake and the Herrenhausen Gardens are known nationwide, and the arched elevator in the New Town Hall is a worldwide rarity. With the world's largest exhibition center and numerous leading international trade fairs, above all the Hanover Fair, Hanover is one of the leading congress and exhibition cities in Europe. Every year the world's largest marksmen's festival takes place and since 1955 Hanover has borne the official honorary title 'Schützenstadt' (marksmen's city). The annual Maschsee Festival is the largest lake festival in Germany. Since December 2019 Hannover is officially on the shortlist for the title European Capital of Culture 2025.
The Herrenhäuser Gardens in Hannover consist of the Great Garden, the Mountain Garden, the Georgengarten and the Guelph Garden. The Great Garden in Herrenhausen is one of the most important baroque gardens in Europe and is the historical centrepiece of the Herrenhausen Gardens. The Berggarten, which is also located in Herrenhausen, developed from a vegetable and cultivation garden to a botanical garden. The rainforest house that was built here in 2000 was converted into an aquarium in 2006. A visit to both gardens is subject to a fee. The Georgengarten is located east of the Großer Garten and, like the Welfengarten, belongs to the Nordstadt district. Both gardens are designed in the style of English landscape gardens and are freely accessible. They are assigned to the portfolio of the Lord Mayor of the city administration of Hanover.
With 30.196 students in the winter semester 2019/20, Gottfried Wilhelm Leibniz Universität Hannover, or LUH for short, is the second-largest university in Lower Saxony after Georg-August-Universität Göttingen. There is a choice of around 90 subjects. The University of Hannover is a member of the TU9 German Institutes of Technology e. V. In the winter semester 1987/88, 26,503 students were enrolled at the University of Hannover, 34.2 percent of whom were female. In the 1990/91 winter semester, the number of students enrolled exceeded the 30,000 mark for the first time. The proportion of women was 37.4 % this year, and 38.8 % the following year. In 1995, the departments of economics, law, and linguistics moved to a new location at Königsworther Platz: the Conti Tower of the former Continental AG headquarters. The 'Conti-Campus', with a floor space of around 20,000 m², was able to accommodate not only the individual departments but also a large library as well as a cafeteria and several cafés run by students.
The branch canal Hannover-Linden (SKL), formerly known as the branch canal Linden, is an artificial waterway that connects the Mittelland Canal with the Lindener Harbour in the Hannover district Linden-Mitte. It was built between 1910 and 1915. The branch canal begins in Seelze-Lohnde at canal kilometre 149.59 of the Mittelland Canal and initially heads east. A marina is located in Seelze. After about 8 km the branch canal crosses the border to the city of Hanover. Then, in the district of Limmer, the connecting canal to the Leine branches off, which provides a connection to the Leine and the Ihme. The branch canal Hannover-Linden continues in a south-easterly direction to the Linden harbor lock. The lock raises the level by 7.80 m to the height of the harbor basin of 58.1 m above sea level. The federal waterway ends at km 10.75 and the harbour basin at km 11.2. The Braunschweig Waterways and Shipping Office is responsible for the federal waterway.
The New City Hall in Hanover is the city hall of the capital of Lower Saxony and the headquarters of the Hanoverian city administration under its Lord Mayor. The Wilhelmine, palace-like magnificent building in eclectic style was built between 1901 and 1913. The New City Hall is embedded in the ten-hectare Maschpark on the southern edge of the city center, outside the historic city center of Hannover. The square in front of the north-northeast facing north wing is now called Trammplatz. It was created specifically in connection with the construction of the City Hall and was named after the then City Director Heinrich Tramm. The south side of the building faces the Maschteich.
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