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Property ID: 70034
Price: €2,500,000.-
Block of flats: residential and commercial building in Spandau. 80% vacancy with potential development
Facts and Key Data
Type Block of flats (Invest.)
Year of construction 1970
Location type Residential and commercial
Price 2,500,000.00 €
Yearly operating costs 24,000.00 €
Gross floor area Approx. 1,500 sqm
Plot Size Approx. 1,075 sqm
Commercial space Approx. 500 sqm
Residential space Approx. 1.000 sqm
Rentable Surface Approx. 1.500 sqm
No. of floors 4
No. of garages 10
Heating system Central heating
Last refurbishment 2004
Tenanted Yes
In 1970 three buildings with 14 apartments / units were built. The buildings have an overall size of 1,500.00 sqm. 12 units consist of a total area of 1000 sqm and 2 apartments, divided into the rest of the 500 sqm. The latter can be used as a commercial building.
This property has been used in the past as a multi-family building and as a hotel. A famous German tv channel has used this property as a site of the soap opera, lastly.
Location
Public transport, i.e. several bus lines, shops, clinics, pharmacies, schools and kinder gardens are reachable within a few minutes walking distance.
District description:
The western edge district of Spandau offers both urban as well as countryside qualities with the attractive old town on the one hand, and the forest as well as the river courses of Havel and Spree on the other hand. The development is manifold and passes through attractive detached house zones to high-rise settlements; social dwellings count to approximately 20 percent of the entire builidings in Spandau - a rather high share. The medieval old town with its comfortabe small-town flair forms the kernel Spandaus. Around this area gather new large construction settlements from the 60's and '70's, and in the southern side of the Heerstrasse lie the rural areas of Gatow and Kladow, quiet and partially idyllic housing developments with large forest and water surfaces, offering an elevated value. The district is the most important industrial location of the city, hosting very well known employers such as BMW, Bosch Siemens, Orenstein & Koppel and Osram. The group, that basically wants to expand its Berliners locations, invested approximately 50 Million Euros into a new technology center at Rohrdamm, and shall bring its plant switchgear to a technical top standard with approximately further 100 millions. An entire area – Siemens city – is named after this important business. Altogether Spandau is also evolving from industrial to a service- and innovation business location. With regard to real estate, most districts are relatively cheap, both with respect to renting and purchase prices.

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