Type: Apartment Block
Size: 598 m2
Street: Goethestr.
State: Saxony
City: Aue
Tenanted: yes
Yield: 11.6 %

TENANTED PROPERTY IN SAXONY

This tenanted apartment house is primarily of commercial use. The single tenant operates business premises from the property which also includes some residential space.

The current lease is fixed through until 2013 and thereafter renewable. The rental income currently delivers a yield of 5.8% however, under the terms of the lease, will increase to a yield of 11.6% from November, 2009.

The four storey, centrally heated property dates back to 1901 however was modernised in 1990. The total floor area is 598m2.

The property is in Aue which is a town in the Free State of Saxony, Germany, with 18,000 inhabitants. Today, it is developing its tourism industry and is located close to a large national park area. Historically a mining town which had been known for its copper, titanium, and kaolinite, which was used for Meissen porcelain. Aue was a centre of engineering and cutlery during the German Democratic Republic. Aue is situated 30km south-west of Chemnitz and 110km south of Leipzig.

This property is available at a bargain price of only 173 euros per m2 !!

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