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SL118,  Luxury apartment development opportunity and commercial property for sale

Magazinstraße 1, Schneeberg, Germany, Schneeberg, 08289, Sachsen, Erzgebirgskreis, Germany
  • Created on: 06-08-2020 00:00:00
  • Square meter: 0 sqmt
  • Bedroom: 18
  • Kategorie: Multi family homes

Ref # : SL118

for sale £ 99,000
6-storey commercial property, constructed 1922. Features approximately 1800 square meters in the main building, 800 square meters in the side building. Freehold, all taxes paid to date.

• Building permission in place for conversion to commercial/residential mixed-use. • Factory was a textile manufacturer, no environmental concerns (site clean-up issues). • Central Location, considered a landmark property to the city of ca. 20k as well the region in general. • Significant interest from condominium Buyers exists already. City of Schneeberg and the Mayor’s office is extremely pro-active. • Property borders a large Greenland to the north of which could be purchased directly from the city for future expansion of the site. Location The city of Schneeberg (translates to “Snow Mountain”) is situated in the scenic Ore mountain range and features good to excellent connections with major transportation networks. It is first mentioned in recorded history starting around the 15th Century, known as an important part of the silver mining the entire region is known for (Erzgebirge). Population is around 20.000. Schneeberg is historically known for its mining and textile industries as well agriculture; many professional services are located here in addition to general services for the population in the city and the surrounding region. Since reunification the city has put considerable effort into revitalizing its infrastructure and focus on other industries outside of its traditions. Small to medium sized manufacturing and Consumer services are industries beginning to play a significant role in Schneeberg. Since reunification a large industrial zone has been created outside of the city while in the historical town center a great degree of investment has been placed in restoring the middle-aged and Baroque era buildings and landmarks allowing for a growing tourism industry as well. The city is also looking to the future with an emphasis of promoting internship opportunities for students, wants to become a education focused city. Geographically the city of Schneeberg is located conveniently to the major cities of Aue, Chemnitz, Zwickau and Leipzig. General Overview: Property consists of two major buildings, semi-detached. The primary building, a natural stone six-storey construction featuring massive construction in the floors and walls, dominates this part of the city. Each floor features approximately 280 -300 m² of buildable internal floorspace. The addition to the left of the property features approximately 150-200 m² of buildable space over four floors. Each floor is accessed by two sets of stairs as well as an elevator to the rear of the building (formerly a freight elevator). Roof of the main building features spectacular views of the town and surrounding natural scenery. Property has been vacant for over ten years, last utilized as a furniture store. A good part of the former inventory is still inside, will require disposal and/or recycling. There is a strong demand in the city for larger apartments/condominiums with medium to high fit-out. Presently the housing market is dominated by small to medium sized apartments, housing stock that was essentially left over from the GDR era and only renovated to a basic fit-out after reunification. Germans are not willing to cram themselves into small apartments and homes as they were forced to in the past, although there is a very limited supply of suitable housing stock in the city areas where families prefer to live with their growing families. Many families prefer to live in the larger cities but many times need to move into single family homes in the country in order to get the space they need. The plan is to develop this character-filled landmark property into thirteen residential units along with two commercial units on the ground floor. The first floor of the main structure will be renovated into two large commercial office spaces for professional, service-oriented tenants looking for a premium address in the town (Notary, Doctor, Lawyer, etc…) The second through fourth floors will feature nine 100qm condominiums each featuring three bedrooms, living room and kitchen with main and guest bathrooms. Balconies will be developed on each side of the structure. The fifth and sixth floors will feature four (two per floor) penthouse style apartments each having private access to the rooftop. These flats will feature four bedroom units with modern, open-plan living areas as with the smaller flats below them. All condominiums will feature elevator access and on-site parking to be developed on the space occupied by the adjacent building. There is a partially developed cellar with access both to the front and rear of the property. Part of the cellar was reinforced to be used as a bomb shelter during the war. In later years the space was used for loading and unloading of deliveries from the side street access. Cellar will be developed into storage areas for the units above as well all physical plant will be moved here.


Base Information

Bed: 18

Parking Information

Garage description: Garage and loading bay


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