Renovated investment property with significant development potential

This attractive property at 48 St. Peter Street offers investors a rare combination of immediate income and substantial development potential. The building underwent a comprehensive refurbishment in 2017 and is therefore in a technically up-to-date and well-maintained condition. ​The property currently comprises seven open-ended tenancies. In addition to the residential space, the property offers two garages as well as 8 car parking spaces on its own land, increasing tenant comfort and sustainably securing lettability. ​With a current gross annual income of approx. €40,000 at full occupancy, the property provides a solid base yield. What makes this property special, however, is the expansion option: According to a preliminary assessment, the existing usable area can be increased by approx. 200 m². Development reserve: approx. 200 m² on an approx. 500 m² plot (currently used as a garden). This gives the investor the opportunity to substantially increase income through densification or an extension and to significantly enhance the value of the property. An energy performance certificate has been commissioned and will be submitted once completed.