The "Schillerstraße 6-8" project involves the construction of a residential complex with a total of 62 privately financed owner-occupied apartments with a weighted floor space of 2,200 m². The new building project in Vienna's coveted high-density belt offers generous terraces and balconies, an attractive and contemporary architecture and a modern facade. In addition, a total of 63 underground parking spaces will be built.
The good location of the project is characterised by good public transport connections to the nearby Badner Bahn and the proximity to Austria's largest shopping centre, Shopping City Süd. The traffic connection for cars is provided by the Wiener Neudorf motorway access road, which allows quick access to the higher-level traffic junction of Vösendorf. The city centre of Vienna can thus be reached within a few minutes.
The purchase financing of the project has already been secured by debt and equity capital, so that the realisation can take place immediately. The planning phase has been completed and the building permit has already been issued. Construction is scheduled to begin in May 2020 and completion is scheduled for summer 2022. The current schedule already takes into account the current circumstances (COVID-19) and there have only been marginal delays so far. The construction activities can be carried out as planned, as the legal minimum distance between construction workers is being observed.
For the purpose of partial financing, IME GmbH intends to take up qualified subordinated loans of a maximum of € 1,000,000.
The borrower is the land registry owner of the property with the address Schillergasse 6-8 in 2351 Wiener Neudorf. A total of 62 residential units with a weighted usable residential area of 2,200 sqm and 63 underground parking spaces will be realised. The properties have been acquired, the planning phase has been completed and the building permit has already been issued. The start of construction is scheduled for May 2020. It is expected that construction work will be completed by summer 2022.
During the term, the lender will receive an annual distribution of 7.00%.
The lender will get back its invested capital after the sale of the apartments. According to the plan, this is to take place after 30 months.
Wiener Neudorf is located in the sought-after bacon belt of Vienna. Located in the south of Vienna, the city limits can be reached within a few minutes by car as well as by public transport. Both the nearby A2 motorway and the Badner Bahn railway offer first-class transport connections for commuters or short trips to Vienna. In addition to numerous green spaces, bathing ponds and local recreation areas, which make up a large part of the total area of Wiener Neudorf, a part of the Shopping City Süd is also located in the municipal area of Wiener Neudorf.
Historically, finds from around 4,000 BC prove the origins of Wiener Neudorf. However, Wiener Neudorf was first mentioned in the middle of the 12th century, although the addition of the name "Wiener" Neudorf was only added in the early 19th century to simplify postal delivery. Thus "Neudorf" finally became Wiener Neudorf. Today, Wiener Neudorf is a much sought-after place of residence due to its proximity to Vienna. As part of the Viennese Speckgürtel, Wiener Neudorf offers its residents good infrastructural connections and a rich selection of Heurigen, restaurants and local suppliers.
The market town of Wiener Neudorf, located in the sought-after bacon belt of Vienna, is home to a diverse range of leisure and recreation areas as well as various local suppliers for daily needs. For a shopping trip, Austria's largest shopping centre, the Shopping City Süd or also called SCS, can be reached in a few minutes by car. Wiener Neudorf has a first-class public transport connection to Vienna through the Badner Bahn, which is easily accessible from Schillergasse 6-8. The popularity of Wiener Neudorf is based on the best of two worlds, the proximity to the city and the flair of the quiet suburb with a farmers' market at the weekend.
The largest shopping centre in Austria has been in existence since 1976 and is also one of the largest shopping centres in Europe. With more than 192,500 m² of retail space, the SCS offers space for more than 300 commercial, gastronomy and entertainment businesses and also houses its own cinema. With 10,000 parking spaces, the SCS is primarily geared to car traffic and enjoys great popularity even beyond the borders of Germany. Every year more than 23 million visitors from Austria to Hungary and Slovakia visit the SCS and it offers a unique brand selection and shopping experience.
In summer, the residents of Wiener Neudorf benefit from numerous possibilities for sports and leisure activities in the market town. In the immediate vicinity of Schillerstraße 6-8 is the Kahrteich, which is used as a swimming pond in summer. In addition to swimming, the pond also invites for fishing and diving. For culture enthusiasts, the Migazzi Haus offers numerous events, concerts and lectures. In addition to entertainment, the Migazzi Haus also houses the municipal archive and library. The nearby monastery park offers young and old a local recreation area with all amenities, such as a playground for the children and nearby wine taverns for refreshment after a family outing.
The event location in the pyramid in the neighbouring community of Vösendorf is a 40-metre high multi-purpose hall, which with its striking pyramid shape represents an architectural landmark. At present the plexiglass steel construction with its outbuildings is operated as an event hotel pyramid in which trade fairs and congresses are regularly held. The pyramid was built in 1983 as an extension of the Shopping City Süd shopping centre on the initiative of SCS operator Hans Dujsik. Originally, the pyramid was initially used as an exclusive swimming pool ('El Dorado') with sauna operation from the year 2000, whereby a tropical atmosphere was created by planting palm trees and the glazed pyramid ceiling. In the year 2000 the original use as a tropical swimming pool was discontinued and the pyramid was converted into a multi-purpose hall for congresses and other events.
|Development Stage||New Construction|
|Track Record||€50-249 million developed|
|Existing Bank Financing||Yes|
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