Large factory for conversion to luxury apartments and commercial space


Property For sale , Schneeberg, Germany

Property sale by , Owner - Schneeberg

20 bed Property for sale

Large factory for conversion to luxury apartments and commercial space


Only For Serious Investors - Only £115K An absolutely astounding opportunity. A direct sale of this HUGE 6 floor former fabric factory, freehold, and there's more! The property is in Schneeberg, and is the most important building there. This is ONLY for the serious investors, the building will require a considerable amount spent to convert it into apartments, once complete the estimated practical sales price of each apartment will be MINIMUM 250,000 each (5 floors @ 2 per floor, 10 apartments, total of all apartments worth £2.5M when finished). You then have the top floor and ground floor, worth at least £300,000 in value each. Total ROI is easily over £2M after renovation, invest a little, earn a lot. A plan has already been put in place for the building, there would be 2 apartments on each floor, thats 5 floors of apartments, then there is the full roof that could be turned into one massive full length apartment, or a restaurant or similar, then there is the ground floor. The ground floor is simply stunning, huge, tall roofs, this is perfect for business and retail space, interest has already been shown from two local mid sized companies for space in the building once it is complete. As mentioned, this is only for the serious investor, the cost to purchase is £115,000 plus purchase / notary fees, this is a win-win property for the buyer, we know of nothing similar that exists, no similar buildings or potential investment opportunities. The buyer would have to commit to renovate the property into something, and not let it sit, this is not a speculative property. We can assist with planning and renovation at great reductions on what would be charged locally, we have our own team and equipment for both planning, logistics and work within the building. Viewings are of course available and recommended. Staged payments are not available, any mortgages must be sorted out before showing interest. Many more images are available. Main floor on bottom is 18 Metres length by 12 Metres width. The main entrance is 3.5 wide and 3.2 width. The main floors are 22.1 Metres by 12 Metres The rooftop is 26 Metres by 12 Metres The disparity between the roof length and the main rooms length is because at the main entrance side to each side of the staircase, are two rooms on each floor, for three of the floors. The small rooms on each side of the staircase is 3.7 Metres in width (Staircase wall to external wall) and 4.2 Metres (Large room wall to main entrance wall). Magazinstraße 1, 08289 Schneeberg, Germany