Investment project in Germany in Mönchengladbach, land plot 631.8 m2

For sale building with a project for reconstruction into a nursing home and anchor tenant!

The project provides for the reconstruction of the building into a nursing home for the elderly.
The permit for reconstruction is in the process of being obtained.

The building was built in 1985, in good condition.

It is located in the city center, not far from the central pedestrian street.

All the necessary infrastructure is located nearby.
Plot area ~ 635 m2
Total area for rent ~ 1435 m2 (including basement)

There is a signed contract with the future tenant - a large operator from Dusseldorf, it completely rents the entire building for a nursing home for 15 years (+ options 5 years + 5 years).

The price of the plot is 1,800,000 euros

The total cost of the reconstruction will be ~ 1,200,000 euros

Available financing options:

1. an existing loan of 1.2 million euros at a rate of 1.49% per annum with the possibility of increasing the amount by an additional 230,000 euros and 570,000 euros.

2. an agreed subsidy of 1.5 million euros. (+ an option of 0.4 thousand euros)

There are two options for making a profit after the reconstruction:

1. Selling the property at a price of ~ 4,500,000 euros, in which case the profit will be 1,500,000 euros, which is divided equally between the investor and DEM GROUP.

2. Renting with an income of ~ 225,000 euros per year with a subsequent increase in the rate to 235,000 euros per year.
Today, there is a large and confirmed interested party for the lease of this house for 15 years, with subsequent extension.

Rental cash flow after occupancy is 225,000 Euro per year, 2 years after occupancy, the cash flow increases
to 235,000 Euro, all tied to the index.

Buyer commission + 3.57% of the property value.

Additional information can be provided upon request.