The project "Seitenberggasse 16" is an impressive attic storey extension in the 16th district of Vienna. The project includes the renovation of the existing building and the attic conversion with approximately 690m² of additional usable living space (8 additional residential units). Currently, the property includes the property with a plot area of 515m². Currently there are 5 existing residential units, which have a total usable area of 365m². After the attic addition, the planned residential usable area is approximately 1,055m². All residential units are to have an open space such as a terrace. The equipment and design of the new units will be kept with high quality materials in natural colors.
The property is located in a good residential location in Vienna Ottakring - in the 16th district of Vienna. All local amenities are within a few minutes walking distance. The shopping center Lugner City offers a balanced shopping paradise for all shopping needs. Doctors, kindergartens and schools are easily accessible.
The purchase of the property has already taken place and the issuer is already the owner of the property. The issuer is planning a single sale of all residential units. Construction will start in the 3rd calendar quarter of 2022 and will end on schedule in the 1st calendar quarter of 2024.
The property is built in ideal location in the 16th district of Vienna. This is a refurbishment and a attic storey extension with 8 new residential units.
The borrower is the owner of the property with the address Seitenberggasse 16, 1160 Vienna. In the course of the new construction project 8 impressive residential units with a total usable area of 690m² will be built. The property currently includes the property with a land area of 515m² and 5 residential units with a current residential floor space of 365m².
The aim of this issue is to partially redeem the own funds used, the financing of the renovation of the existing building, as well as the increase with attic conversion with about 690m ². Subsequently, an individual sale of all units is planned. Construction of the new building project is scheduled to start in the 3rd calendar quarter of 2022. It is expected that construction activities will be completed no later than the 1st calendar quarter of 2024.
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 liquidated. 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.
Nothing is worth more than a good location. The "Seitenberggasse 16" project is located in the middle of Vienna's 16th district. All kinds of local amenities are in the immediate vicinity. The Ottakring Clinic is only 15 minutes away on foot. The Vienna Ottakring cemetery is also in close proximity in the west of the Ottakring district. Lugner City offers an ideal location for a well-balanced shopping experience.
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.
With its approximately 61,000 m², the Kongresspark is one of the largest public parks in Ottakring. The park was laid out in 1927 according to plans by architect Erich Franz Leischner. The Kongressbad was built at the same time as the park. The Congress Park offers a spacious area for leisure activities of all kinds. Here, children can let off steam in the extensive play facilities, but adults don't miss out on the many sporting opportunities either.
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 - you can find it all here at Brunnenmarkt.
For all winter sun worshippers, the 16th district recommends a visit to 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 are waiting for 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 Klosterneuburg monastery, the landlord at the time. In 1850, the brewery was moved to the brewhouse that still exists today and was expanded into a large brewery over the following decades. In peak years, up to 350,000 hectoliters of beer are produced here.
The existing late historic Palais Kuffner is a building erected in 1893 for brewery owner and Ottakring mayor Moritz Kuffner. Since the palace is privately owned and not open to the public, the bourgeois flair of that time can only be experienced at events and during a visit to Harmer's Bar. Music lovers in particular will not miss out on the regular jazz sessions here.
On the western outskirts of Vienna in the 16th district is the Jubiläumswarte. The viewing 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|
AVI Holding GmbH is a joint venture of Michael Albert and Roland Duraku. Mr. Albert is active with several companies for 15 years on the real estate market in Austria and Germany as a project developer & investor. His focus is on the renovation of listed buildings and the construction of new apartments, but also in the commercial real estate segment he was successfully engaged as a developer and investor in the repositioning after a major renovation of a retail park.
Mr. Roland Duraku is also active with his companies 15 for years on the Viennese real estate market as a project developer. He has specialized in the purchase and sale as well as revitalization of apartment buildings and attics. Together with AVI Holding they want to bundle their expertise and create high-quality housing in Vienna.
The projects will be implemented with the support of a network of partners and service providers. AVI Holding accompanies the project from purchase, through planning and finally to completion and sales. The claim of AVI Holding is to create sustainable and value-preserving living with always the highest quality to the satisfaction of the customers.