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Macro Location Analysis
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Purpose of the loan
Rendity pays Instant Interest:
‣ Interest accrues during the funding period
‣ Interest already paid out after the funding period
The project "Stockerauerstraße 18" is an extensive renovation of a beautiful corner apartment building from the Gründerzeit in a central location in Korneuburg. In the course of the renovation, the attic of the property will also be raised and seven new residential units will be created. In the course of the development additionally approximately 550 m ² net floor space, as well as balconies and terraces, will develop. The eleven existing units on the standard floors will also be renovated to the latest standards. The apartments will be sold individually to end-users and investment buyers.
The property is located in the center of Korneuburg and offers all-important amenities for daily needs and is also conveniently connected to public transport. Due to its excellent location, Korneuburg has established itself as a city with a very high quality of life. From the well-developed city center, it takes only 20 minutes by car to get to downtown Vienna. At the same time, Korneuburg benefits from the generous recreational areas along the Danube and the neighbouring Vienna Hausberge.
The purchase of the property has already taken place, the building permit has already been applied for and the preparations for the development are already underway. It is expected that the building permit will be issued by the end of 2021 and that construction will start in spring 2022.
The project developer ELCO GmbH has already financed 6 successful projects with the help of the Rendity investor community. Of these, 2 projects with a volume of EUR 875,000 excl. interest have been repaid to the investors.
El-CO Immobilien is a real estate development company specialized in residential real estate and based in Vienna. As a family-run company, we not only aim to create living space in the classic sense, but we also want to build sustainably for the next generation.
Investors receive an annual interest rate of 7.00% on their invested capital. The interest is distributed to the investors every year. The capital invested is repaid to the investors at the end of the term of a maximum of 30 months.
In total, the existing property has 11 residential units, which will be comprehensively renovated. In addition to this, the attic will be developed with 7 exclusive residential units, resulting in an additional net living space of around 550 m². A total of 1,468.66 m² of living space will be revitalized and built. Special attention is paid to the ecologically sustainable construction and the careful use of valuable resources.
Due to its favorable location, Korneuburg has established itself as a city with a very high quality of life. From the well-developed city center, it takes only 20 minutes by car to get to downtown Vienna. At the same time, Korneuburg benefits from the generous recreational areas along the Danube and the neighboring Vienna Hausberge.
The borrower is the registered owner of the property with the address Stockerauerstraße 18, 2100 Korneuburg. The building currently has 11 existing units and in the course of the extension 7 newly built attic units will be created. On the street side, the residential building is characterized by a beautiful, articulated Gründerzeit facade. On the courtyard side, the apartments will be extended by open spaces such as loggias and terraces.
The acquisition of the property has already taken place, the planning phase has been completed and the building permit has already been submitted. The building permit is expected by the end of 2021, after which construction is scheduled to start in spring 2022. At the same time as construction starts, sales will also commence. All residential units are to be sold individually in the course of the refurbishment/construction. It is expected that construction activities will be completed by the 4th quarter of 2023 at the latest.
During the term, the lender will receive an annual distribution of 7.00%.
The lender will receive its invested capital back after the completion of the urban villas. According to the planning, this is to take place after a maximum of 30 months.
Purchase price land 1.790.000 €
Service charges 171.780 €
Planning costs (architect, statics, etc.) 257.500 €
Construction costs 3.150.000 €
External consulting 78.600 €
Financing costs 368.325 €
Total investment costs 5.816.205 €
Expected sales revenues 7.020.662 €
Estimate profit 1.204.456 €
The property Stockerauerstraße 18 in Korneuburg is located at the gates of Vienna and convinces with its excellent connection to the road network via the A22 and S1. The stores for everyday needs are mostly within walking distance for the residents of the property.
The area around Korneuburg is one of the oldest wine-growing regions in Austria and the town of Korneuburg itself is a popular destination for excursions. The Kornau valley stretches from Korneuburg to Vienna and is considered one of the most beautiful areas in Lower Austria.
The Hautplatz in Korneuburg is the heart of the community, as it is home to important administrative buildings and a variety of local suppliers and regional stores. The centerpiece of the Hautplatz of Korneuburg is the town hall tower, which is a listed building, and a large number of local suppliers and regional stores can be found here. In the center of the main square of Korneuburg is the listed town hall tower, which towers over the entire square.
The town hall, which was rebuilt in 1896, is still in use today and houses the administrative headquarters as well as pubs and stores. On weekends, the main square hosts a market with specialties from various regions of Austria.
The Korneuburger Au is considered one of the most popular and idyllic recreational areas in Korneuburg. The extensive area stretches The Korneuburger Au is a popular and idyllic local recreation area. It is north of Korneuburg and serves not only as the city to find and is considered a recreational place for KorneuburgerEinheimigen and Viennese, but. In addition, many animal species can also be found there as a retreat, since the Au is largely natural.largely natural. Page break
With an altitude of 358 meters and an area of 255 hectares, the Bisamberg is located in district Korneuburg and borders on the south side to the 21st district in Vienna. To a large extent, the Bisamberg is designated as a nature reserve, but is also home to some of the oldest vineyards in Austria.
The good public accessibility, both from Vienna and Korneuburg, attracts many hikers, since in addition to the popular city hiking trail 5, a theme trail or a huge playground invite you to visit. Around the Bisamberg are many inns and wine taverns, which provide tired hikers with food and drinks.
Today's museum castle was originally built in the 12th century and was strategically located north of Vienna on the Danube. In addition to extensive collections of armor and historical weapons, Kreuzenstein Castle also features a knight's hall as it would have been in the heyday of the time. Regular guided tours attract tourists who want to experience the flair of the Middle Ages.
We are a real estate development company specializing in residential real estate with headquarters in Vienna.
As a family-run company, we not only aim to create living space in the classic sense, but also to build sustainable housing for the next generation. Therefore we invest a lot of time in the planning and implementation of each project and only work with strong and experienced partners who meet our criteria to ensure the high quality of our projects.since our foundation almost 10 years ago, we have specialized in the area of new construction of apartments and single-family homes as well as the renovation of old buildings.
EL-CO Immobilien stands for sustainable living and outstanding quality for well-being - we are already building for the next generation