The German
Property Centre, a specialist
Dublin based investment
property services company,
today announced plans to
market luxury apartments in
Potsdam, South West Berlin, to
Irish investors. The German
Property Centre provides
services to Irish investors
considering overseas
investment property in
Germany. The property, known
as Parc du Bois, dates from
the 1890’s and is now at an
advanced stage of
redevelopment. It will consist
of 140 residential units with
a value of over €35m when
fully completed in September
2007. The listed red brick
buildings originally housed
the Prussian royal cavalry
regiment.
The GPC has
reserved a selection of
penthouse apartments in the
development for release to
Irish investors at favorable
terms. The apartments will be
completed in two phases, April
2007 and September 2007.
Investors will receive a 10
year rental guarantee and the
property will be managed by a
German property management
company for an annual fee of
€492. All apartments use
energy efficient technology
and feature parquet flooring
and balconies.
The prices
range from €116,000 for a one
bedroom apartment with 48
square meters, to €202,000 for
a large two bedroom apartment
with 82 square meters. The
rental guarantee provides for
an initial minimum gross
rental yield of 4.3%. Finance
and legal services are
organized for investors by the
German Property Centre’s
Dublin office.
“Potsdam is
famous for the post-war
Potsdam Agreement of 1945 and
is described as Berlin’s
equivalent of Versailles in
Paris, with its many palaces,
parks and architectural gems.”
said Denis Madden, Director of
the German Property Centre.
“Potsdam while 20 minutes by
train from central Berlin is
much more than a suburb of
Berlin - it is the
administrative capital of
Brandenburg the state that
surrounds Berlin and has a
strong local
economy and thriving town
centre. Volkswagen have their
design center there, and the
software giant, Oracle, moved
its Internet Sales Division in
2002 from Dublin to Potsdam.
The development is located in
the heart of this very
historic setting in Potsdam,
close to the world heritage
site of Sanssouci, where
Friedrich the Great realized
his ambitions to build
beautiful baroque palaces in
grand formal garden layout”
said Madden.
“Germany
and Berlin in particular is
becoming a hot spot for
overseas investment at all
levels – from major private
equity firms to smaller
individual apartment investors
looking for reasonably priced
property in a major European
capital city. The Parc du Bois
development meets the needs of
investors looking for
guaranteed rental income in an
area experiencing residential
property price appreciation”
added Madden.
For further information:
info@germanpropertycentre.com
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