Update from the originator: After negotiations with various construction companies, the issuer has now decided on one company. The general contractor work contract is currently being prepared. The building permits according to §70a for the attic conversion have already been submitted and are currently being examined. Construction is scheduled to start in August or September. The construction notification has already been made. Furthermore, the standard floors have already been completely gutted. The project in the second Viennese district of EL-CO GmbH is therefore on schedule so that from today's perspective the completion and return of the capital should take place on time.
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Macro Location Analysis
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The project "Große Stadtgutgasse 19" is an extensive renovation of a beautiful middle-income house from the Gründerzeit, formerly the Hotel Franzenhof, in a central location in 1020 Vienna. In the course of the renovation, the attic of the property will also be raised and two new residential units will be created. This will create an additional 305m² of net living space as well as balconies and terraces. The 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 northwestern part of Vienna's 2nd district and offers its residents all the important amenities for their daily needs. The location is captivating due to its proximity to the Vienna Prater, the Danube Canal and the Praterstern traffic junction, which is about a 5-minute walk from the property.
The purchase of the property has taken place, the building permit has already been issued and the preparations for the development are in full swing. Construction will start shortly and the planning has already been completed. The project is characterized by an environment with high development potential and very experienced project developers with an excellent network.
The project developer ELCO GmbH has already financed 5 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.
Investors receive the Rendity Immediate Interest as soon as they deposit their investment, which is paid out as soon as the subscription period expires. With Rendity Immediate Interest, investors receive interest on their invested capital not only for the term of the loan, but also for the period prior to that. Thus, investors receive interest on their investment even during the subscription period. The accrued Rendity Instant Interest is already paid out to the Wallet after the end of the subscription period.
In total, the existing property has 11 residential units, which will be comprehensively renovated. In addition to this, the attic will be extended with two exclusive residential units, resulting in an additional net living space of around 305 m². A total of 1,225 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.
From a traffic point of view, Große Stadtgutgasse 19 is optimally connected. The subway station Taborstraße and the station Praterstern as well as various streetcar connections can be reached in just a few minutes on foot. The Prater Hauptallee, the Augarten and Vienna's city center are also only a few minutes away.
The borrower is the registered owner of the property with the address Große Stadtgutgasse 19, 1020 Vienna. The building currently has 9 existing units and in the course of the extension 2 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 with 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 issued. Construction has already started. All residential units are to be sold individually in the course of the renovation/construction. It is expected that construction activities will be completed by the 1st 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 completion of the urban villas. According to the planning, this is to take place after a maximum of 30 months.
Nothing is worth more than a good location. The "Große Stadtgutgasse 19" project is located in the immediate vicinity of the two subway stations Praterstern and Taborstraße, which means that the city center can be reached in just under 10 minutes. The two extensive recreational areas Augarten and the Vienna Prater offer countless opportunities to escape the hustle and bustle of the city. Especially the Jesuitenwiese in the Prater attracts many people, as this former auland invites to relax. Also in the 9 km² Prater area is the Würstelprater, popular with young and old alike, with countless attractions and rides.
The Augarten, with its iconic flying defense tower, is a park open to the public with the oldest baroque garden complex in Vienna. In addition to a well-kept parterre garden with elaborate floral landscapes, it also offers an extensive area crisscrossed by shady avenues of chestnut, armor, linden, ash and maple trees, providing space for recreation as well as sporting activities for the local population and tourists. The plain concrete tower from the Second World War, located in the park, is now closed to visitors, but offers a contrasting beauty to the rest of the well-kept Augarten and has become part of the Viennese cityscape.
Praterstern is home to several subway lines as well as regional trains, making it one of Vienna's most important public transportation hubs. The Praterstern station, which was only rebuilt or largely rebuilt in 2008, is a huge multi-lane traffic circle that connects seven streets. It serves the residents of Vienna's second district as a public transport link to the city center and also as a local supplier with countless stores for everyday needs.
The area of the Vienna Prater, which covers more than 9 km², includes an amusement park, the so-called Würstelprater, several bodies of water and a huge recreational area. The area belonging to the Prater, once auland of the Danube, is documented since the year 1162. At the end of the 20th century, numerous investments were made in the Prater's infrastructure. The Jesuit Meadow was converted into Vienna's largest playground with a toboggan hill and a winter snow-making system. For over 100 years, the Vienna Giant Ferris Wheel has been turning at the entrance to the Prater. The Ferris wheel is both a sight and a landmark of Vienna. A curiosity of the Wurstelprater is the Republic of Kugelmugel whose only inhabitant had proclaimed an own state in 1970, since his house was a sphere whereby the bearing surface is thereby only a point. However, since a point has no spatial extension, he believed that he was in a state-free space.
In summer, the residents of the apartment building benefit from the proximity of the artificially filled Danube Island, which is not only part of the flood protection system, but also one of the most important recreational areas in Vienna and Klosterneuburg. It is an artificial island up to 250 m wide between the Danube and the New Danube and has a lot to offer for people, animals and plants. The Danube Island is a popular cycling route and is also excellent for water-related recreational activities, offering Wiener his own water ski lift.
Several very popular public lidos can be found along its banks, including the most famous of them all, the Gänsehäufel. A variety of sailing schools and boat rental facilities can also be found along the old Danube. The dammed part of the Danube is extensively used by the Viennese for cooling off in summer. In addition to the cool water, the Copa Cagrana with countless restaurants offers plenty of opportunities to get your culinary money's worth.
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.
|21.09.2021||Paid||No||21 September 2021, 07:50|
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