Niederslitz, Dresden, Germany

Property Description

Dresden is one of the biggest cities in Germany. Its geographical positioning, on the east coast of the country, means it is commonly known as the gateway from Germany to Poland and the Czech Republic. A clean, safe and friendly town with a population of 510,071, is currently undergoing a major renovation with money being re-invested in infrastructure in areas such as roads and the development of football stadiums. The industrial town which is steeped in history lies on both sides of the River Elbe, which means the climate is cold moderate to continental. The city contains five large renowned German universities, with over 50,000 students a year; Dresden has great potential for renting in the Winter months to students and Summer months to some of the 9 million tourists who flock here each Summer.

Investment Summary:

• Location: Niederslitz, Dresden
• Excellent access to the public transport; 20 min to city centre & 20 min to the River Elbe
• Built in 1996, 11 apartments with basement garage or outside parking space in this private 105 unit residential development
• 50% owner occupier occupied
• Apartments range in size from 35-75sq.m
• Fully let & Management company in place
• 80% local financing secured
• €350,000 sinking fund already in place across the entire development
• Gross Yield of 7.1%
• Non Refundable deposit of €3,000 required to secure a unit
   
• Projected Returns - 23% discount to market
• Exit Strategy - Local or investor made CGT of 20%
• Term - 10 years +