Plant / Factory in city Erzgebirgskreis
3300.00 sq.m., 1 bedroom

€ 135 000
A spectacular purchase for the investor or develper.

Key facts:
3,300 sqm built area
6 floors in total
Constructed around 1926 and used as a corset factory, then used as a furniture and fabric factory.
Main building has 6 floors
The rear building has 3 storeys
Solid construction
Freight elevator in main building
Central staircase
Full basement

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.

Location of the property on the map

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