The project "Gschwandnergasse 33" is an existing building revitalization including an extension in 1170 Vienna. In the course of the renovation and the development of the new building, 5 residential units with about 800m² of usable space as well as balconies and terraces will be built. The residential units will be sold individually to end users and investment buyers.
The good location of the project is characterized by good public transport connections to the nearby Hernalserstraße and the Vienna Postal Sports Club. The traffic connection for cars as well as the public transport connection can be classified as very good. The city center of Vienna can be reached within a few minutes.
The purchase of the property has already taken place, the building permit has already been submitted and the preparations for the development of the project are already underway. Construction is expected to start in the 2nd calendar quarter of 2022.
The borrower is the owner of the land together with the existing property with the address Gschwandnergasse 33, 1170 Vienna. A total of 5 residential units plus balconies and terraces with a total usable area of approx. 800m² will be built.
The acquisition of the property has already taken place, the planning phase is in full swing and the building permit has already been submitted. Construction will start in spring 2022 and sales will start at the same time. All residential units are to be sold individually through pre-sales or during construction. It is expected that construction activities will be completed no later than the 4th quarter of 2023.
During the term, the lender will receive an annual distribution of 7.25%.
The lender will receive its invested capital back after the sale of the residential units. According to planning, this is to take place after a maximum of 33 months.
Gschwandnergasse 33 is located in the center of a residential area with low traffic volume outside the "Gürtel" artery of Vienna. The immediate proximity to recreational areas means that this location offers both recreation through green spaces and local recreation areas as well as the amenities of a modern district with extensive social, educational, cultural and sports facilities as well as various local supply options. The connection to the public transport network is also given by bus lines and the subway station Alser Straße. Within a few minutes you can reach the city center directly with the U6. Bus line 46B takes you to the Heuberg, an extensive recreational area.
The Vienna General Hospital is one of the largest hospitals in Europe and the largest in Austria. It has over 2,000 beds and employs nearly 10,000 people, about one-sixth of them doctors. Every year, half a million patients are treated in the wards and 397 outpatient clinics. The AKH is an important pillar of Vienna's health care system. In addition, it is the seat of the Medical University of Vienna and serves as a training hospital for 7,500 students. Due to the large flow of people and the number of workplaces, the AKH Vienna represents a special feature for the surrounding residential real estate market.
Probably Vienna's best-known confectionery factory has its original production site on Wilhelminenstrasse in the middle of Hernals. Since its founding in 1890, the product range has been constantly expanded, but most people always associate the slogan "Manner mag man eben" with the unmistakable Manner wafers. And it is precisely these that are produced here by 400 employees in the main plant, which also serves as the company headquarters, in Hernals.
And sports fans don't miss out either: almost all ball sports (soccer, handball, volleyball, basketball, tennis, beach volleyball, squash, La Crosse) are represented at Postsport Verein Wien. A 400-meter running track and several catering outlets, including a sauna and outdoor pool, round off the facilities. More than 100 parking spaces are available for members and guests in the immediate vicinity.
Today's park was founded in 1905 after the former Hernals local councillor Lorenz Bayer. The Hernalser Park offers residents new exercise equipment and is considered an active park for both outdoor exercise and sports. In addition to the Lorenz Bayer Park, the Türkenschanzpark, named after the Second Turkish Siege, offers residents of the 17th district a large recreational world on 2,500 square meters with streetball, beach volleyball, basketball and skate facilities as well as extensive recreational areas. The observation tower offers a breathtaking view of Vienna and the Vienna Woods. In 1991, the Turkish Yunus Emre Fountain (corner of Feistmantelstraße/Dänenstraße) was presented by the then Turkish ambassador as a sign of friendship between Vienna and Turkey. Due to its topography, Türkenschanzpark is extremely scenic and, because of its ponds and streams, waterfalls and fountains, it is still very popular with the population as an excursion destination.
|Track Record||More than € 250 million developed|
|Existing Bank Financing||Yes|
The DEMAX GROUP relies on many years of experience in the field of real estate investments, whose focus is on information-rich consulting for low-risk investments and an above-average return. The Demax Group has succeeded in all matters of the real estate industry, from the planning of projects and financing to the development and - last but not least - the sale of real estate. The existing know-how combined with trust, reliability and sustainability are the cornerstones that make up the Demax Group.