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Macro Location Analysis
EvoEstate Risk rating is of an informative nature only & can not be considered investment advice.
Purpose of the loan
The property "Wilhelminenstraße 72" is an almost fully let 3-front building in a good location near the Wilhelminenberg in Vienna-Ottakring. The impressive apartment building comprises a total of 26 units, which are already completed and have a total usable floor space of more than 1,500m². Recently the complete facade and not too long ago the staircase was renovated. Furthermore, all street-side windows were replaced and provided with external blinds.
The project is already very well rented and currently generates a net annual rent of € 123,276. The current average rent of € 6.84 /m ² still offers great potential upwards, in addition, 500m ² attic conversion can be realized in the future.
The house is surrounded by all-important amenities of daily needs and is excellently connected to the public transport network due to its proximity to the subway station Ottakring. Various recreational activities are in the immediate vicinity, and the extensive post office sports field in the 17th district can be reached in a few minutes. Outside the city, Neuwaldegg on the edge of the Vienna Woods is an excellent starting point for local recreational opportunities.
Velum GmbH has already financed 6 successful portfolio projects with a volume of € 3,071,624 with the help of the Rendity investor community. Of these, one project with a volume of € 350,000 excl. interest was repaid to the investors. In total, more than € 180,000 in interest has already been paid out. Behind the borrower is the founder of the Velum Group, with more than 15 years of real estate experience in Austria and Germany.
The issuer's portfolio of apartment buildings and apartments is almost exclusively located in Vienna. In total, the portfolio comprises 33,500m² of usable space divided into 625 rentable units. The majority of the portfolio is residential. Currently, the portfolio has a market value of approximately € 79,000,000.
The project is already 95% leased and currently generates a net annual rent of € 123,276. The current average rent of € 6.84 /m² still offers great upward potential, in addition, 500 m² of attic space can also be leased in the future. Further increases in rental income are expected through a reduction in vacancies and new leases at market rents.
There is a liability in the form of a hard letter of comfort in the amount of the loan issued by the parent company Velum Holding GmbH.
Investors receive quarterly distributions of 4.75% p.a. on their invested capital during the term. The capital invested is repaid to investors at the end of the term.
The stations of the rapid transit line S45 and the subway line U3 are within walking distance. With the U3 you can reach Stephansplatz in 14 minutes. The stops of the bus lines 10, 44, 46, 46A, and 26B are around the corner - in about 15 minutes you are at the Schottentor station. Also around the corner, there is a large Spar supermarket and other stores for daily needs.
The borrower is the registered owner of the property with the address Wilhelminenstraße 72, 1160 Vienna. The apartment building comprises 26 rental units with a usable floor space of 1,500m². In total, an annual net rental income of approximately € 123,276 is currently achieved. Recently the complete facade and not too long ago the staircase were renovated. Furthermore, all street-side windows were replaced and fitted with external roller blinds.
The property was purchased using debt and equity. The aim of the crowd investing campaign is to partially redeem the equity capital used.
During the term, the lender receives an annual interest rate of 4.75%.
The Rendity interest deposit serves as a security for the investors. Before the start of each project, the respective borrower has to deposit an interest deposit in the amount of half a year's interest into a separate escrow account. The interest deposit deposited by the borrower is subject to fiduciary safekeeping and may only be used to compensate for interest payments not made or missing capital repayments to the investors.
Purchase costs property 3.300.000 €
Purchase - additional costs 300.000 €
Financing costs 90.000 €
Refurbishment costs (planned) 310.000 €
Reserve 100.000 €
Total investment costs 4.100.000 €
Total usable space 1.500m²
Current occupancy rate 95%
Annual net rental income 123.276 €
Rentable units 26
The Wilhelminenstraße 72 convinces with its central location in the heart of the 16th district. Stores for everyday needs are partly within walking distance. Residents of Ottakring appreciate Ottakring its multicultural diversity and its urban ambiance. Known as "Balkan Street," Ottakringer Strasse is lined with numerous Serbian cafes. Turkish specialties are offered at the bustling Brunnenmarkt street market. Around nearby Yppenplatz are hip restaurants with outdoor areas on the square. On the western edge of Ottakring, the Vienna Woods beckon with hiking trails and a panoramic view of the city from Wilhelminenberg.
The Brunnenmarkt is Vienna's longest street market and stretches along Brunnengasse from Thalia Strasse to Ottakringer Strasse. On weekdays there are around 40 to 50 stalls at 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 colorful culinary scene has established itself around the Brunnenmarkt.
The Wiener Stadthalle is the largest event center in Austria and among 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. Every year, more than 300 events are held here; from top international acts and the ATP tour stop "Erste Bank Open" to cabaret and musicals, there is something for every taste.
All winter sun worshippers in the 16th district are recommended to visit Yppenplatz and the gastronomic establishments located there. Whether it's breakfast at Dolce Lago, a quick coffee at Café Frida or an after-work Spritzwein at Wirr next to the large window front, the cozy locations are waiting for your visit and, thanks to the adjacent Brunnenmarkt, also provide numerous regional delicacies. But also in the rest of the months, you will meet a cool and relaxed atmosphere and delicious offers in the cozy cafes. For more info, check out our post about cafés waiting for your visit in the 16th district.
Wilhelminenberg Castle, built in the 18th century, is located on the western edge of Ottakring on the Gallitzinberg. Originally designed as a hunting lodge and summer residence for Prince Demetrius Michalowitsch von Gallitzin, the Russian ambassador to Vienna at the time, Schloss Wilhelminenberg is now used as a hotel. The extensive park invites you to take walks with a magnificent view over Vienna. Ottakringer Brewery The Ottakringer Brewery is home to Vienna's brewing tradition and, as such, is an important part of Vienna's culinary culture. The brewery was founded in 1837 by master miller Heinrich Plank after the monastery of Klosterneuburg, the lord of the manor at the time, granted the brewing permit. In 1850, the business was moved to the brewery building that still exists today, and over the following decades, it was expanded into a large-scale brewery. In peak years, up to 350,000 hectoliters of beer are produced here.
We are professionals for everything that has to do with the purchase of apartment buildings, properties and other real estates. We take our job very seriously and offer first-class support, starting with a non-binding initial consultation and ending with a purchase transaction.
As an owner-managed company, our decisions are not dependent on committees or third parties. You communicate directly with the decision-makers - even the purchase is made directly. We do not act as intermediaries, middlemen or similar.
We use all our know-how as a successful and professional local investor and developer on the Vienna real estate market for you - with the focus on your goal, the rapid and profitable sale of your property.
Last but not least - we believe in fair cooperation; we are in friendly contact with many sellers even years after the purchase.
|03.06.2021||Paid||No||03 June 2021, 12:35|