The project "Reinprechtsdorfer Straße 43" is an extensive renovation of a mid-rise building as well as an extension including attic conversion of the property with seven newly developed residential units in the middle of the 5th district. In the course of the extension additional 729m² net living space can be realized. The 16 existing units are divided into three commercial premises and 13 vacant residential units, which will be renovated to the latest standards in the course of the general refurbishment.
The property is centrally located, surrounded by all important amenities for daily needs and is excellently connected to the public transport network due to its proximity to the subway station Margaretengürtel (U4). In addition, the future subway station-Reinprechtsdorferstraße (U5) will be quickly accessible. Various leisure activities are located in the immediate vicinity, Hayden Park can be reached in a few minutes.
The project is being realized by EL-CO Immobilien Group, which has already successfully obtained the building permit after successfully purchasing the land. Construction will start shortly and planning has already been completed. The project is characterized by an environment with high development potential as well as very experienced project developers with an excellent network.
The borrower is the registered owner of the property with the address Reinprechtsdorfer Straße 43, 1050 Vienna. The building has a total of 23 units, which are divided into three business premises, 13 existing units and seven newly constructed attic units. On the street side, the residential building is characterized by a simple, reduced and detailed structuring of the facade.
The acquisition of the property has already taken place, the planning phase has been completed and construction has already started. All residential units are to be sold individually as part of the renovation/construction process. It is expected that construction activities will be completed no later than Q3 2022.
During the term, the lender will receive an annual distribution of 7.00%.
The lender will receive its invested capital back after completion of the project. According to the planning, this is to take place after a maximum of 30 months.
Discover the surroundings
Margareten is the district where culture and architecture meet Viennese charm. Bruno Kreisky, Falco and Hans Moser have already lived here and it is no wonder because hardly any other district embodies the versatility of Vienna as much as the 5th district. Reinprechtsdorfer Straße 43 is located in the middle of one of the most beautiful residential areas of the 5th district. Both transport connections, the subway station Hauptbahnhof can be reached in 5 minutes on foot, as well as the local supply leaves nothing to be desired by the residents. Especially the proximity to the Naschmarkt, the culinary Mecca of Vienna, makes gourmet hearts beat faster.
Originally built by Prince Eugene at the beginning of the 18th century, the Belvedere today houses extensive gardens and a museum of art. The garden's sloping hillside location was used as an occasion to dedicate the sculptures set up to the theme of the ascent from the underworld to Olympus, which brings visitors closer to Greek mythology. Right next to the Belvedere, the botanical garden of the University of Vienna, which is open to the public, invites visitors to relax. In the Upper Belvedere, which today offers rooms for artistic and historical insights of historical Austria, the State Treaty of Austria was signed in 1955.
After the unsuccessful attempt to use the Palais Schönburg commercially as a hotel, the palace was completely renovated a few years ago. Especially the architecture and the spacious garden made the palace, which was built at the beginning of the 18th century by the architect Johann Lukas von Hildebrandt, popular as an event location. Today, the baroque jewel shines due to its proximity to the center, surrounded by its magnificent park.
The Naschmarkt is considered the largest inner-city market in Vienna. Vienna's Naschmarkt owes its special flair to its mixture of market stalls and eateries, which are arranged in a serpentine fashion in the middle of the left and right Vienna rows. The Naschmarkt is a well-known Viennese sight and, from a culinary point of view, should not be missed on any exploration tour.
Meidling train station
Vienna Meidling train station is the second most important train station in Vienna after the main train station. Meidling station is located about 3 kilometers west of the main station. Further west of Meidling station, the long-distance lines branch off to the west and south. All ÖBB long-distance trains run between Meidling station and the main train station. East of the main station, the long-distance lines branch off to the north and east. This means that all long-distance trains (except those arriving from the east and terminating at the main station) can also be boarded at Meidling station.
|Track Record||More than € 250 million developed|
|Existing Bank Financing||Yes|