Commercial Premises with 69 Units/Offices Fully Tenanted Producing a Net Yield of 10.8%. A former factory building with 3 floors. The floors are segmented in bigger and smaller rent unities (15 – 1,930 m ?2;), by partition walls giving a high flexibility from that point of view.
Originally built in 1925, the building underwent major refurbishment in 1990. The owner and management company have maintained the building to a good standard.
The building lies in a central position in Aachen at a main road. The position is a preferential trade location for small and bigger businesses.
A Ltd Co. which is owner of the property will be sold.(Share deal) The Ltd Co. employes a management company (financed from the rent additional costs) who has held for many years the renting and management contract.
All tenants contracts are unlimited. In spite of a normal fluctuation the building is always fully tenanted on account of the - compared with the local-usual price - low rent prices of €3.32 m ?2;.
Potential increase in rental income which is currently €486,220 p.a from 12,184 sqm rentable area.