The project "Flurstraße 3" is a new construction project in which 2 urban villas with a net living space of approximately 674 m² and a total of 10 residential units with a living area of 63 m² to 87 m² will be built. The development project is located in an excellent location in the municipality of Velden am Wörthersee in the district of Klagenfurt in Carinthia and offers spacious terraces and balconies. An underground garage with 20 parking spaces is also being built.
The property is surrounded by all important amenities of daily needs and is excellently connected due to the proximity to the center of Velden as well as Klagenfurt. The Südautobahn is only a few minutes away by car, which means that Klagenfurt's city center can be reached in about 15 minutes by car. Lake Wörthersee is only a few minutes' walk away.
Construction activities are already underway and work is currently being done on the underground parking garage and the foundation of the outdoor facilities. The completion of the urban villas is planned for spring 2022. Currently, out of 10 condominiums, 8 have already been sold and the contract for the last 2 apartments are pre-contractually secured.
The borrower is the registered owner of the property with the address Flurstraße 3, 9220 Velden am Wörthersee. A total of two town villas with 10 residential units and a net living space of approx. 674 m² as well as 20 underground parking spaces will be built.
The acquisition of the property has already taken place, the planning phase has been completed and the construction progress is already well advanced. All residential units are to be sold individually, and there is currently a pre-sale rate of 85%. There is already a pre-contractual commitment for the last 2 residential units. It is expected that construction activities will be completed by spring 2022 at the latest.
During the term, the lender will receive an annual distribution of 6.50%.
The lender will receive its invested capital back after completion of the urban villas. According to the planning, this is to take place after a maximum of 18 months.
Velden is located on the western shore of Lake Wörthersee. Due to the short distance of about 25 km, to Klagenfurt, Velden is a popular recreation area for the inhabitants of Klagenfurt. In the summer, however, vacationers also travel from all over Austria, so that about 330,000 overnight stays take place as a result of summer tourism. In addition to its proximity to Klagenfurt, the other tourist resorts around Lake Wörthersee are also easy to reach.
On the western bay of Lake Wörthersee lies Velden, probably one of the best-known tourist resorts in Austria. Perched directly on the shore of Lake Wörthersee is Velden Castle, which is considered the most famous tourist destination on Lake Wörthersee. The fame of Velden Castle comes from the TV series of the same name "A Castle on Lake Wörthersee" which was broadcast in more than 40 countries. Even today, international movie stars regularly visit Velden Castle for their summer vacations. Velden is nowadays considered a hotspot with a unique lifestyle which is very popular with visitors from home and abroad, with a wide range of top gastronomy, hotels and recreational facilities. This mix of Carinthian down-to-earthness of the Alpine region and great attitude to life is immediately noticeable in Velden. From recreation on the lake and numerous hiking trails to adventure and lifestyle, Velden offers its visitors a wide range of leisure activities. Especially popular are the annual events such as the Fête Blanche, Pink Lake and the music event Starnacht.
On the south side of Lake Wörthersee at 851 meters above sea level stands the "Pyramidenkogel" observation tower, offering visitors a breathtaking panorama of the entire Wörthersee after climbing 441 steps. Originally constructed in 1950 as a wooden lookout tower, a completely new lookout tower was erected in 2013 and, in addition to two viewing platforms one above the other and an event room at a total height of just under 100 m, also offers Europe's highest slide with a height difference of 52 m.
At 19.39 km², Lake Wörthersee is the largest lake in Carinthia and, with an average water temperature of 25°C in summer, it is also the warmest Alpine lake. The pleasant bathing temperature is especially popular with summer tourists, as bathing is possible until well into September. A special feature of Lake Wörthersee is its milky-turquoise color, which is created by the lime-rich water and colors the water idyllically, especially in summer. With autumn 2019, the lido in Reifnitz was also rebuilt and modernized for the 2020 bathing season, as the number of visitors increases every year. In addition, the range of water trend sports on offer throughout Lake Wörthersee is growing, which means that additional guests are traveling to Lake Wörthersee, especially for the extended season. In addition to sailing, water skiing and parasailing, new water sports such as wakeboarding are also gaining in popularity and importance on Lake Wörthersee.
Klagenfurt can be reached in just a few minutes by car from Reifnitz. The "Minimundus" miniature park is located on a site of over 26,000 m² and exhibits 159 miniature models of well-known buildings, ships and trains from all continents on a scale of 1:25. Originally opened in 1958, more than 15 million people have already visited the park, with the net proceeds of the Minimundus park going to the "Save the Child" charity, which also owns the park. About a third of the models in the park depict significant buildings from Austria, while the majority of models cover the world's most significant landmarks and monuments.
|Development Stage||New Construction|
|Track Record||More than € 250 million developed|
|Duration||Up to 18 months|
|Existing Bank Financing||Yes|
DSM Holding GmbH is a family-run management and investment company based in the center of Velden am Wörthersee in Austria. Several successful real estate projects have been projected, planned, marketed and constructed within the DSM network in recent years. One of the main outstanding features is that all projects were completely sold out before handover to the new owners.
The location, the functionality designed according to the market demand in the housing mix, the appealing architecture and the generous open and green spaces of the constructed properties, made the rapid implementation in terms of their marketing and profitability a success for all market participants.