Find a place to call your own
image
Support people in fulfilling their dreams

Start your agent career with Engel & Völkers

image
Sell your property with best in class service

Discrete, fast and with years of market knowledge.

Gerana Studios

10% RETURN OPPORTUNITY "GERANA STUDIOS"


  • Attractive inner-city location
  • Boardinghouse for students, business travellers, people looking for accommodation
  • Furnished to a high standard, including fitted kitchens
  • Plot size: 3,780 m²
  • Usable living space: 4,001 m²
  • Apartments from 22.58 m² to 40.32 m²
  • 99 apartments of which:
    • 11 x 2-room apartments
    • 35 barrier-free apartments
    • 9 wheelchair accessible apartments
  • Wheelchair storage rooms in the basement and ground floor
  • Washing machine and drying room
  • Operator for boardinghouse available
  • Net annual rent operator: 500,000 €
  • Purchase price: on request

 Erfurt
- Gerana Studios
 Erfurt
- Gerana Studios

As the second largest city in Thuringia in terms of area, Gera is a thriving university town. A boardinghouse with 99 rooms on 6 floors is being built in an ideal location.


With the apartment mix, care was taken to appeal to a large number of users. In addition to barrier-free and wheelchair-accessible apartments, 2-room apartments will also be created. An elevator and a wheelchair ramp provide barrier-free access to the property. Several wheelchair loading spaces on the basement and ground floor as well as a washing machine and drying room are available to users.


The apartments are fully furnished and equipped with a kitchenette. Each residential unit has its own bathroom with shower or bath. Large windows, some floor-to-ceiling, bring plenty of light into the apartments.


An operator with an operator contract for a period of 10 years and two 5-year extension options is available. The annual net rent will be 550,000 €.


The buyer can take over an already approved KfW loan of 2,700,000 € with a term of 12 years and an interest rate of 0.7% as well as a repayment subsidy of 722,000 €.

The gross total return after taking into account the KfW repayment bonus minus interest is approx. 6.11%. The gross total factor after taking into account the repayment bonus minus interest is approx. 16.36.

With an overnight price of 60 €/apartment, 7.7 days are needed to achieve 550,000 € in annual rent. This means that the boardinghouse is already profitable with an occupancy rate of around 25%.

With an overnight price of 50 €/apartment and an occupancy rate of 50%, an annual rent of 903,375 € was achieved. The return is then 10.03% and the factor is 9.96.

Hotels expect an occupancy rate of 65%.
With higher occupancy, the return forecasts may increase.

In view of the attractive return opportunities, it makes sense to operate the property yourself using professional property management. 

It will be completed by the end of 2023.

 Erfurt
- Lageplan Gerana Studios
 Erfurt
- Gerana Studios

The renovation project is located in downtown Gera and is very well suited as a boardinghouse for students, trainees, business travelers, people who have moved to Gera looking for a flat and visitors to Gera.


The location is particularly popular because of its good infrastructure. The boardinghouse can easily be reached by public transport, which is located directly on the Eisenbahnstraße.


The Gera-Eisenach dual university, the BMH training center for medical auxiliary professions, the SRH University of Health, the IHK training center in Gera and numerous other educational institutions are not far away by public transport and/or on foot, making it an ideal location for a boardinghouse in Gera.


Schools, day-care centers, playgrounds and museums such as the Museum of Applied Arts are also not far from the “Gerana Studios”. The Otto-Dix shopping arcade and various leisure facilities such as the Hofwiesenbad and the theater are also easily accessible by public transport.


The nearby Hofwiesenpark and the banks of the Weißen Elster invite you to relax and linger. Even those who want to do sports will find plenty of opportunities in Gera and the city forest. In numerous bars and restaurants, which are within walking distance, you can end the day relaxed with family and friends.


 Erfurt
- Gerana Studios
 Erfurt
- Gerana Studios

10% RETURN OPPORTUNITY "GERANA STUDIOS"

Originator:

All visualizations, floor plans, creations, descriptions and specified data in this exposé are subject to copyright protection and may only be used with the prior written consent of the author. Mistakes and errors on all information/representation as well as changes and deviations in planning /execution are reserved. The images may contain special equipment.


Commission:

With us, the broker contract comes through the confirmation of the use of our brokerage activity in text form on the bases of the property exposé and their conditions. The buyer’s commission in the amount of 5.95% of the purchase price including statutory VAT earned and is due upon conclusion of a notarized contract. The amount of gross brokerage is subject to an adjustment in the event of a change in the tax rate. The EV Immobilien GmbH Jena, office Thüringen Projekte receives a direct payment claim against the buyer (contract in favor of third parties, § 328 BGB). Property tax, notary and court costs are borne by the buyer.


Notices:

All of the information presented are without grant and are based on information, which were sent to us by our clients. We do not assume any liability for the completeness, correctness and topicality of this information. Subject to error and prior sale. The EV Immobilien GmbH Jena is allowed to agree upon a commission with the seller. Upon request, we are happy to provide you with further information about the property and the owner. The property inspection can take place at any time by arrangement with one of our employees / agents. At this point we expressly refer to our general terms and conditions once again.

Contact us now
Engel & Völkers
Licence Partner Thüringen Projekte
  • Lange Brücke 35
    99084 Erfurt
    Deutschland
  • Fax: +49 361 66378329

Follow us on social media