Engel & VölkersEngel & Völkers
Pavillion

Residential and commercial building with development potential

€5,000,000
  • ~825 m² Total surface
  • ~170 m² Living area
  • ~987 m² Plot surface
  • ~655 m² Office surface
  • Construction year 1920

Description

The property currently has three buildings located in the rear portion of the site. There is a vacant lot in the front portion. Development appears to be feasible in principle. There is no detailed development plan. According to the zoning plan dated December 28, 1960, the property is located in a core area. According to public information, development is feasible for both residential and commercial use. A non-binding preliminary plan envisages a buildable area of approximately 1,570 m² of gross floor area in the front section of the property. More precise details require consultation with the relevant authority. The current commercial lease agreements are set to expire shortly; in principle, an extension of the existing agreements appears feasible. The central building is currently occupied by the owner herself. Upon request, the property will be handed over vacant. The property is located within the "Tiergarten-Süd" neighborhood preservation zone. "Tiergarten-Süd" Environmental Protection Area Development appears feasible Residential or commercial use Standard land value: EUR5,500/m² Possible vacant handover 170 m² of living space Oil-fired central heating Average commercial rent: EUR19/m² 35612
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Engel & Völkers Commercial Berlin

Your advisor: Team Investment Residential and Commercial

Property ID: OI-BER-35612

Property details
  • Property type

    Investment

  • Total surface

    ~825 m²

  • Living area

    ~170 m²

  • Plot surface

    ~987 m²

  • Office surface

    ~655 m²

  • Usable surface

    ~825 m²

  • Target return

    3.8 %

Energy efficiency information
  • Construction year

    1920

  • Energy efficiency class

    D

  • Energy certificate available

    Yes

  • Energy certificate type

    Energy Consumption Certificate

  • Final Energy Consumption

    107.1 kWh/m²a

  • Energy source

    Oil heating

Location: Tiergarten, Berlin

The property is situated in the Tiergarten district, not far from the popular Park am Gleisdreieck. This section of the street is home to numerous charming old buildings, most of which are in very good condition. The nearby Potsdamer Straße offers all the amenities needed for daily life, numerous bus services and, thanks to the nearby Kurfürstenstraße underground station, excellent links to local public transport. City West, Mitte and City East can all be reached quickly and easily from there. The entire neighbourhood has undergone considerable development in recent years. Numerous galleries, fashion boutiques and upmarket restaurants have significantly boosted its appeal. Thanks to the many new-build projects around Park am Gleisdreieck, this location has now become very popular and in high demand.

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