Apartment Block for sale in Aue, Saxony - Tenanted Property - Yield of 11.6%.
Stand Alone Property
(GBP 92,653
USD 141,495)
Apartment Block for sale in Aue - Tenanted Property.
This is a tenanted apartment block property, which is primarily commercial. There is a single tenant that operates this business premises, the property also includes some residential space.
Currently the lease is fixed until 2013, but thereafter is 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%, this is from November, 2009.
A four storey property with central heating, this property is dated back to 1901, was modernised in 1990. The total floor area of some 598m2.
Property is located in Aue, this is a town in the Free State of Saxony, with 18,000 inhabitants.
Today this is a developing town for its tourism, located close to a large national park area. Historically this was a mining town known for its copper, titanium, and kaolinite, which was used for Meissen porcelain. Aue was a center of engineering and cutlery during the German Democratic Republic. Aue is situated 30km south-west of Chemnitz and 110km south of Leipzig.
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