A fully let, IBB-subsidised block of flats in Spandau's Wilhelmstadt district

The apartment block is a seven-storey residential building, built in 1981, situated in a quiet location and comprising a total of 21 residential units. The property was constructed as part of a social housing scheme with funding from the Investitionsbank Berlin (IBB) and is currently still in the rent-control phase; it is therefore subject to rent controls for social housing. Its status as publicly subsidised housing will cease in 2031, opening up attractive long-term development prospects. The 21 flats are accessed via a central stairwell with a passenger lift. All units have a balcony and benefit from a predominantly south-west facing orientation and good natural light. The building is thermally insulated and fitted with double-glazed windows. Heating is provided by an oil-fired central heating system, whilst hot water is supplied via a decentralised system. There are 10 car parking spaces at the front of the building, which are used by the existing tenants. A particular attraction is the immediate proximity to the Burgwallgraben, a tributary of the River Havel. The green spaces bordering the property to the north-east lend the location a natural character. A planned upgrade of the riverside paths is likely to further enhance the quality of life. Overall, the property offers an attractive investment in an existing portfolio with an established tenant base, an appealing location surrounded by greenery and water, and long-term development potential once public housing subsidies come to an end. The property is situated within a regeneration area and the 'Wilhelmstadt' social preservation area. The regeneration by-law is scheduled to be repealed in spring 2027. In this context, a compensation payment under regeneration law will be due. 'Wilhelmstadt' conservation area Regeneration area (comprehensive procedure) Quiet, green neighbourhood Well-maintained All units with a balcony Heating via oil-fired central heating Energy efficiency class E Average rent for residential properties: EUR7.14/sqm 153444