Update from the developer:
The developer is currently examining the sale as a complete package in a partially inventory-free and unrenovated condition, whereby the developer is currently still in purchase talks with the last owner of the apartment in order to obtain sole ownership of the entire property. At the same time, however, the conversion and approval strategy will be pursued in order to complete the justification of the condominium by means of supplementary savings and thus also enable the sale as individual condominium properties. The course of the project is therefore according to plan and further exploitation alternatives are also being examined.
The project 'Lienfeldergasse 32' is a revitalization project and general renovation of 5 residential units, 2 studios plus a commercial area in the middle of the 16th district, with a total usable floor space of 730 m². The house is characterized above all by its central location in the 16th district of Vienna with easy access to all important amenities for daily needs as well as many local recreation possibilities. The commercial space in the courtyard has already been let to a long-standing resident company at a monthly net rent of EUR 7/m², which is customary for the market, and with a 10-year waiver of termination.
A total of 730m² of weighted usable space including balconies will be completely renovated. The residential units will be built with a special focus on modern and comfortable construction.
The purchase financing of the project has already been secured by borrowed capital and equity, so that realisation can take place immediately. The planning phase has been completed and the building permit is expected in a few months. Construction is scheduled to start in 2021 and the sale is planned for spring 2021.
The project developer Fourreal has already financed 5 successful projects with the help of the Rendity Investor Community. Of these, 4 projects with a volume of EUR 780,000 have been repaid to the investors.
Investors receive an annual return of 6.25% on their invested capital. The interest is distributed to the investors every year. The invested capital is repaid to the investors at the end of the term of a maximum of 24 months.
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 Sofortzins 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 accrued immediate yield interest is paid out to the Wallet after the end of the subscription period.
For years Vienna has been enthroned at the top of the cities with the highest quality of life. This year again, Vienna's blend of quality of living, first-class cultural offerings, local recreation areas and public transport infrastructure took the top spot in the international study 'Quality of Living 2018' by the consulting firm Mercer Consulting. Especially in comparison with top international cities, property prices are moderate and construction quality is high.
fourreal is a well-known real estate developer in the Vienna area. Their expertise includes the complete organisational and commercial handling of projects related to real estate development, apartment building development, redevelopment & real estate financing. fourreal GmbH, led by Anna Orgovanyi-Hanstein and Paul Fiala, is bringing the revitalization project at Lienfeldergasse 32, 1160 Vienna to fruition.
For the purpose of partial financing, fourreal Epsilon GmbH & Co KG intends to take up qualified subordinated loans of a maximum of € 500,000.
The borrower is the owner of the property Lienfeldgasse 32, 1160 Vienna. A total of 5 residential units with a living space of between 45 m² and 124 m² on 4 floors plus open spaces such as terraces as well as 2 studios and a commercial area will be renovated. The property has already been acquired and construction work will begin as soon as the legally binding building permit has been issued. The aim is to sell the units individually at market prices.
During the term of the loan, the lender receives an annual distribution of 6.25%.
The lender receives his invested capital back after the sale of the apartments. According to the plan, this should take place after a maximum of 24 months.
Cost of acquisition
Expected sales proceeds
Ottakring is a district in the west of Vienna and borders on the districts of Penzing, Hernals, Neubau and Rudolfsheim-Fünfhaus. Approximately 105,000 inhabitants live on an area of almost 9 km². Ottakring, the 16th district of Vienna, is a former industrial district, which today is appreciated for its multiculturalism and growing urbanity. The diversity of the district is already evident in its topography: the hilly foothills of the Vienna Woods are located in the western part of the district and flatten out further and further into the city. On the Wilhelminenberg there is room for long walks and the Wilhelminenberg Palace, built in imperial style, is also located there.
One finds more urban development the further one moves into the city towards the Wiener Stadthalle. Not only the biggest brewery of Vienna, the Ottakringer Brauerei, but also the longest street market of the city, the Brunnenmarkt, is located here. Locals like to call it 'Orient around the corner' and not only use the shopping opportunities, but also the attractive culinary offerings that have settled around the Yppenplatz. Fans of traditional Viennese cuisine will not be disappointed either, as the 10er Marie, the oldest Heuriger in Vienna, has been providing guests with this year's Vienna and local fare since 1740.
The Lienfeldergasse 32 convinces with its central location in the heart of the 16th district. Shops for everyday needs are partly within walking distance. Ottakring residents appreciate Ottakring because of its multicultural diversity and urban ambience. The Ottakringer Straße known as 'Balkanstraße' is lined with numerous Serbian cafés. Turkish specialties are offered at the busy street market Brunnenmarkt. Around the nearby Yppenplatz, hip restaurants with outdoor areas can be found on the square. On the western edge of Ottakring, the Vienna Woods lure with hiking trails and a panoramic view of the city from the Wilhelminenberg.
The Brunnenmarkt is the longest street market in Vienna and stretches along Brunnengasse from Thalia Strasse to Ottakringer Strasse. On weekdays there are about 40 to 50 stands on the market, while on Saturdays there can be 120. This makes it the second largest inner-city market in Vienna after the Naschmarkt and the largest in Ottakring. A lively and colourful culinary scene has established itself around the Brunnenmarkt.
The Wiener Stadthalle is the largest event centre in Austria and one of the leading event locations in Europe. In total, the Wiener Stadthalle comprises six event venues and a large sports area including a swimming pool and ice rink. More than 300 events are held here every year; starting with international top acts and the ATP tour stop 'Erste Bank Open', through cabaret to musicals, there is something for every taste.
Wilhelminenberg Palace, built in the 18th century, is located on the western edge of Ottakring on the Gallitzinberg. Originally conceived as a hunting lodge and summer residence for Prince Demetrius Michalowitsch von Gallitzin, the then Russian ambassador to Vienna, Schloss Wilhelminenberg is now used as a hotel. The extensive park invites to walks with a wonderful view over Vienna.
The Ottakringer Brauerei is home to the Viennese brewing tradition and as such an important part of the Viennese culture of enjoyment. The brewery was founded in 1837 by the master miller Heinrich Plank after the Klosterneuburg monastery, the manor of the time, had granted its brewing license. In 1850, the business was moved to the brewery building that still exists today and was expanded into a large brewery over the following decades. In peak years up to 350,000 hectolitres of beer are produced here.
The fourreal Group is a private real estate company in the residential segment based in Vienna. Our expertise lies in real estate project development, apartment building development, residential construction, renovation, leasing, real estate investments, architecture, design and real estate financing. Our focus is on the German-speaking area - especially in the metropolitan areas of Vienna and Berlin.
Our aspiration is modern projects with timeless elegance. For this we do not leave any stone on the other, but also put proven methods regularly for discussion. We call this re-thinking real estate development. We do not look for opportunities, we create them.
|20.07.2020||Paid||No||26 July 2020, 21:00|