Fields of Business
Overview
Property type:
The buildings at Paul-List-Str. 24 and 26 are listed monuments. These buildings were erected c. 1898 and used as a printing works, later as office buildings for Leipzig public authorities. According to the building permit, dated 19 December 2007 from Leipzig's office for construction and heritage preservation, these buildings will be refurbished and remodelled to create residential buildings.
Property location:
04103 Leipzig Centre-Southeast, Paul-List-Strasse 26, district of Leipzig, plot 1124/1. The property borders with Leipzig University Clinic.
Number of apartments:
61 apartments distributed over basement, ground floor, 1st floor, 2nd floor and top floor with sizes between 26 m² and 66 m².
Fit-out of the apartments:
All apartments are furnished to a high standard and are equipped with a fitted kitchen and modern bathroom with shower. In the buildings, there are a concierge, Laundry Lounge, TV Lounge and a fitness and wellness area with sauna.
Construction periods:
Readiness for occupation is targeted for 31 December 2009 with final completion scheduled for 1 April 2010.
Purchase price:
The purchase price for an apartment, incl. fitted kitchen and furnishings is 2,790.00 €/m².
Breakdown of purchase price:
See separate purchase price list (cf. prospect, page 74/75)
Rent forecast:
Rental proceeds of 9.00 €/m² are anticipated. This is a non-binding estimate. The actual rental proceeds/dividends may turn out to be lower, due to, inter alia, vacancy risk, the pooling or other reserves.
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, as well as interest on any interim loans.
Depreciation according to EStG:
Depreciation of the construction costs occurs in the event of letting according to § 7i of EStG (listed buildings) over a period of 12 years. (8 years 9%, 4 years 7%). Depreciation of old construction fabric occurs linearly in accordance with § 7, paragraph 4 of EStG at 2.5% over 40 years. The furnishings and fitted kitchen may be written off over 10 years.
Administration of owner-occupier community:
Administration of the owner-occupier community costs 17.00 €/month, plus applicable VAT, thus currently 20.23 €.
Administration of estate in severalty:
Administration of severalty estate costs 12.00 €, plus 19% VAT/month/housing unit (14.28 € gross). An option to join a rent pool is available, in which the costs for administration of the severalty estate and management of the rent pool amount to a total of 20.00 €, plus 19% VAT/month/housing unit (23.80 € gross).
Maintenance reserve:
As a maintenance reserve, a figure of 0.80 €/m²/month is suggested for the communal property and 1.00 €/m²/month for severalty estate.
Quality control during the construction:
The South Germany division of TÜV (Technical Control Board) will carry out quality control during the course of the refurbishments and conduct the technical acceptance of severalty estate and communal property.
