Fields of Business
Drausnickstrasse 1/1a is only about 10 minutes from the pedestrian zone and Schlosspark. The areas around the Schwabach and the Schleifmühle grinding mill count among the most popular residential locations in Erlangen. Short distances to all faculties and an abundant supply of leisure, sport and recreation facilities are what make this location so attractive.
Young life is now moving into this former barracks building, erected around 1898. Following a high-quality refurbishment one will be able to enjoy the pleasant ambience of high-class living and studying among like-minded peers. The reconstruction of the historical buildings will be carried out in accordance with the stipulations of the heritage preservation order. The fit-out of the apartments is executed with high-quality materials, such as e.g. natural stone window sills and solid parquet floors; the new heating system works with condensing appliance technology. New balconies and terraces will be constructed to the courtyard elevation, and communal spaces in the ground floor, such as the TV Lounge and fitness area. All five floors of the building can be easily accessed by means of a lift.
Overview
| Initiator: | YOUNIQ AG |
| Owner, vendor and property developer: | ER_C@MPUS GmbH & Co KG |
| Owner-occupier community: | OOC - Drausnickstraße 1a |
| Product: | A listed building for refurbishment |
| Year of construction: | Around 1898 |
| Number of housing units following refurbishment: | 94 housing units |
| Total living space: | 2,785 m2 |
| Apartment sizes: | Approx. 21 m² to approx. 77 m² |
| Purchase price per m²: | 2,980.00 EUR (on the top floor), 3,384.00 EUR (for the remaining apartments) |
| Purchase price per housing unit: | 71,741.00 EUR to 226,480.00 EUR |
| Acquisition expenses: | Acquisition expenses are not included in the purchase price and are to be borne by the purchaser. These are made up of 3.5% land transfer tax and approximately 2.0% for notary and court costs, in addition to interest on any interim loans. |
| Construction period, 2nd phase, readiness for occupancy: | 31 December 2009 is targeted; completion by 1 June 2010 |
| Rent forecast: | Non-binding rent estimate; 13.50 EUR/m² unheated (may turn out lower due to vacancy risk or other reserves) |
| Listed property depreciation: | Increased allowance for depreciation according to §§ 7i and 10f of EStG (approx. 73% of construction cost – subject to correction) |
| Linear depreciation: | Linear allowance for depreciation in accordance with § 7 paragraph 4 article 1, no. 2a of EStG 2.5% linearly over 40 years, (13.5% of the purchase price) |
| Administration of owner-occupier community: | 20.23 EUR, incl. 19% VAT per housing unit and month |
| Administration of estate in severalty: | 20.23 EUR, incl. 19% VAT per housing unit and month |
| Maintenance reserve: | 0.50 EUR/m² living space per month |
| Quality control: | TÜV South |
