Full Description

A superb investment opportunity to acquire this delightful block of 6 apartments in a highly desirable residential area of town.

In need of refurbishment with the possibility of two further roof apartments

Photo's = The building, rest of the street and the beautiful park opposite.

More projects available and coming up shortly.

We look forward to speaking with you soon.

WHY WITTENBERGE?

Within a 2½ hour driving radius of Wittenberge there is a population of 14 million people.

Transports links – 50 minutes from Berlin and 67 minutes from Hamburg on high speed train.

Commuting location – Monthly transferable ticket 167 euros to Berlin.

New motorway link from Magdeburg to Rostock (A14) with a new junction at Wittenberge to start end of 2008 and due for completion 2012.

In 2004 15 million euros was invested in the railway station

Well positioned on the River Elbe which is an important commercial route linking Hamburg to the Czech Republic.

Wittenberge is surrounded by a UNESCO national park making it impossible to over develop the area.

Over the last 10 years Wittenberge has benefited from a brand new communications system that rivals any existing system elsewhere.

Cost of land is on average 1/5th of the price of Berlin e.g Berlin 250 euros per m2 – Wittenberge 50 euros per m2.

Corporation tax on properties in Wittenberge is 88% less than Berlin and 48% less than Hamburg.

Immigration of tenants – average age in Wittenberge is 47 compared to a younger average age in nearby cities like Berlin. Therefore tenants are staying longer in their respected properties in Wittenberge.

Rental supply and demand – Wittenberge has started a re-generation programme to demolish 3000 out of town pre-fabricated units. The concept is to re-house these tenants in the centre of town. This programme is backed by the German government who are paying 60 euros per m2 to the local housing association to demolish these units. The costs of demolition are only 40 euros per m2.

On the 25th September 2007 nearby Parchim Airport was purchased by a major Chinese company to be their European cargo base. In addition they have purchased 85 hectares of land

7 million euros of local investment in Wittenberge to start a 58 bedroom hotel, brewery, conference centre, retail outlets & restaurants.

Tourism / theatre – Wittenberge currently holds the 2nd largest outdoor opera in Europe shown on National television. Funding has been granted to further this with 2500 fixed seats. Another 1 million euros worth of funding started in September 2007 to link the theatre above on the river to the railway station.

Increasing population.