The project "Wurlitzergasse 77" is an extensive refurbishment of a beautiful Gründerzeit/middle-income house as well as an extension of the attic of the property with 4 newly developed residential units in the middle of the 16th district. In the course of the extension, an additional 285 m² of net living space can be realized. The 13 existing units on the standard floors will also be renovated to the most modern standards.
The property is surrounded by all important amenities for daily needs and is excellently connected to the public transport network due to its proximity to the Ottakring subway station. Various recreational activities are in the immediate vicinity, and the extensive post office sports field in the 17th district can be reached in a few minutes. Outside the city, Neuwaldegg on the edge of the Vienna Woods is an excellent starting point for local recreational opportunities.
The purchase of the property has already taken place, the building permit has already been issued and the planning of the project is in full swing. Construction activities are already underway and work is currently underway to gut the property. The revitalization of the existing building and completion of the attic is planned for the 3rd quarter of 2022.
The borrower is the registered owner of the property with the address Wurlitzergasse 77, 1160 Vienna. The building has a total of 17 apartments, 13 existing units and four newly constructed attic units. On the street side, the residential building is characterized by a simple, reduced and detailed structuring of the facade. On the courtyard side, all apartments are extended by floor-to-ceiling windows, as well as generous open spaces and private garden areas.
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 the renovation/construction progresses. It is expected that construction activities will be completed no later than the 3rd quarter of 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 urban villas. According to the planning, this is to take place after a maximum of 30 months.
The property Wurlitzergasse 77 convinces with its central location in the heart of the 16th district. Stores for everyday needs are partly within walking distance. Residents of Ottakring appreciate Ottakring for its multicultural diversity and its urban ambience. Known as "Balkan Street," Ottakringer Strasse is lined with numerous Serbian cafes. Turkish specialties are offered at the bustling Brunnenmarkt street market. Around nearby Yppenplatz are hip restaurants with outdoor areas on the square. On the western edge of Ottakring, the Vienna Woods beckon with hiking trails and a panoramic view of the city from Wilhelminenberg.
The Brunnenmarkt is Vienna's longest street market and stretches along Brunnengasse from Thalia Strasse to Ottakringer Strasse. On weekdays there are around 40 to 50 stalls at the market, while on Saturdays there can be 120. 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.
Vienna City Hall
The Wiener Stadthalle is the largest event center in Austria and among the leading event locations in Europe. In total, the Wiener Stadthalle comprises six event venues and a large sports area including a swimming pool and ice rink. Every year, more than 300 events are held here; from top international acts and the ATP tour stop "Erste Bank Open" to cabaret and musicals, there is something for every taste.
All winter sun worshippers in the 16th district are recommended to visit Yppenplatz and the gastronomic establishments 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 cool 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 culinary culture. The brewery was founded in 1837 by master miller Heinrich Plank after the monastery of Klosterneuburg, the landlord at the time, granted the brewing permit. 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.
|Track Record||More than € 250 million developed|
|Existing Bank Financing||No|