Notice according to § 12 (2) VermögensanlagengesetzThis investment involves considerable risk and may result in partial or total loss.
The project "Neulerchenfelderstraße 80" involves the renovation of an existing building and the planning and execution of construction measures for a building extension with attic conversion. The property is located in the 16th district of Vienna. The existing usable living space of 476 m² will be extended by around 484 m² through the addition of a storey and the attic conversion. After the construction measures, the total usable living space will be around 960m². 100% of the additional residential floor area is intended for residential use, with 84% of the total floor area intended for residential use and 16% for commercial use.
The Issuer is already the owner of the property. The existing building surrounds the property with currently six residential units and two commercial units. The area of the property amounts to 450 m². Construction is scheduled to start in the 4th calendar quarter of 2023 and completion is planned for the 1st calendar quarter of 2025.
The property is located in the 16th district of Vienna, which is also known as "Ottakring". Local amenities of all kinds are located in the immediate vicinity of the property. With the streetcar station Neulerchenfelder Straße/Haberlgasse, which is only a few meters away from the property, you can reach the city center of Vienna within 15 minutes. The real estate project is therefore in an excellent location.
The borrower is the registered owner of the property with the address Neulerchenfelderstraße 80, 1160 Vienna. In the course of the project, the existing 476 m² of total usable floor space will be extended by around 484 m² as planned by adding a building extension plus an attic storey. Currently, the existing building comprises six residential units and two commercial units. A 100% residential use is planned for the extension. After construction, 84% is residential use and 16% is commercial use. The property has a current area of 450 m².
The objective of this issue is to partially redeem the equity invested, to refurbish the existing residential units, and to plan and execute the construction measures for a building addition plus attic conversion with approximately 484 m² of additional residential floor space. Subsequently, the residential units will be sold individually.
During the term, the lender will receive an annual distribution of 8.00%.
The lender will receive its invested capital back after the apartments have been sold. According to the planning, this is to take place after a maximum of 30 months.
Ottakring, the 16th district of Vienna, is a former industrial district that is now appreciated for its multiculturalism and growing urbanity. The district's diversity is already evident in its topography: the hilly foothills of the Vienna Woods are located in the west of the district and flatten out more and more towards the city. At Wilhelminenberg, there is room for extensive walks, and Wilhelminenberg Castle, built in the imperial style, is also located there. More urban development can be found the further one moves into the city in the direction of the Wiener Stadthalle. Not only Vienna's largest brewery, the Ottakringer Brewery, but also the city's longest street market, the Brunnenmarkt, is located here. Residents like to call it "Orient ums Eck" (Orient around the corner) and take advantage not only of the shopping opportunities, but also of the attractive culinary offerings that have settled around Yppenplatz.
The "Neulerchenfelderstrasse 80" project is located in Vienna's 16th district. Local supply facilities of all kinds are in the immediate vicinity. The well-known Brunnenmarkt is only a few minutes' walk away. The subway station Josefstädter Straße can be reached in about 6 minutes on foot. Vienna's city center can be reached in only 15 minutes.
Vienna's 16th district has a lot to offer. To the west, a beautiful panoramic view of Vienna can be enjoyed from the famous Jubiläumswarte. The Ottakringer Cemetery, the Ottakringer Baths, as well as the Ottakringer Brewery are characteristic features of Vienna's 16th district.
Not only the Ottakringer brewery with its world-famous Ottakringer beer has its headquarters here, but also the world-famous coffee roasting company Julius Meinl. Culinary lovers will not miss out in Ottakring either. The colorful and culinary diverse Brunnenmarkt, as well as many other eateries invite you to discover.
The Brunnenmarkt is Vienna's longest street market and stretches along Brunnengasse from Thalia Strasse to Ottakringer Strasse. With around 170 market stalls and 948 meters, the Brunnenmarkt is the longest permanent detail market in Europe. The Brunnenmarkt is also known as the "Orient around the corner", which is due to its colorful and multicultural ambience. This makes it the second largest inner-city market in Vienna after the Naschmarkt and the largest in Ottakring. A lively and colorful culinary scene has established itself around the Brunnenmarkt. From cafés, bars and oriental cuisine to regional food, souvenirs and designer products - everything can be found here at Brunnenmarkt.
All winter sun worshippers in the 16th district are recommended to visit Yppenplatz and the eateries located there. Whether it's breakfast at Dolce Lago, a quick coffee at Café Frida or an after-work Spritzwein at Wirr next to the large window front, the cozy locations await your visit and, thanks to the adjacent Brunnenmarkt, also provide numerous regional delicacies. But also in the rest of the months you will meet a great and relaxed atmosphere and delicious offers in the cozy cafes. For more info, check out our post about cafés waiting for your visit in the 16th district.
The Ottakringer Brewery is home to Vienna's brewing tradition and as such is an important part of Vienna's culture of enjoyment. The brewery was founded in 1837 by master miller Heinrich Plank, simply granted a brewing license by the monastery of Klosterneuburg, the landlord at the time. In 1850, the business was moved to the brewery building that still exists today, and over the following decades it was expanded into a large-scale brewery. In peak years, up to 350,000 hectoliters of beer are produced here.
The Jubiläumswarte is located on the western outskirts of Vienna in the 16th district. The observation platform on the Gallitzinberg offers an ideal place to get a beautiful panoramic view of Vienna. The observation tower is freely accessible all year round in fair weather.
|Track Record||More than € 250 million developed|
|Existing Bank Financing||Yes|
The KVIERREAL group has been active for years in the Viennese real estate market as a project developer and has specialised in the purchase, sale and revitalisation of classic Gründerzeit houses and apartments. The core competence is the development and upgrading of historically grown properties that are aesthetically and economically convincing.
Thanks to sound expertise and the many successfully completed real estate projects, the KVIERREAL group has made a name for itself as a specialist for old buildings.