The Leipzig branch of Aengevelt Immobilien is brokering the sale of several fully let apartment buildings in Dresden-Cotta on behalf of two private investors for a seven-digit euro amount. In total, the properties, which were built in the 1930s and last renovated in 2018, comprise 40 residential units with around 2,360 m² of living space and a plot area of around 3,600 m². The buyer is the DREIZEHN37 real estate group around Managing Director Richard Hohme, based in Dresden, which acquired the property to expand its portfolio. The purchase price was not disclosed.
Richard Hohme from DREIZEHN37 Immowert GmbH comments: “We are permanently looking for well-maintained apartment buildings with development potential in sought-after residential areas in our home market of Dresden. Accordingly, the property brokered for us by Aengevelt fits perfectly into our investment strategy: It has sought-after apartment sizes and spacious courtyards and is located in a quiet and popular residential area of the Cotta district – all in all an attractive and sustainable investment. It is already the second investment with over 2,300 m² of living space that we have acquired in just twelve months.”
“Cotta is a district of short distances, with several schools, daycare centers, sports clubs and a very good public transport connection to the city of Dresden. In addition, the investment impressed not only with its attractive location and good condition of the property, but also with an attractive yield as well as further value appreciation potential through attic conversion and in view of the comparatively low rent level in the surrounding area,” adds Ullrich Müller, Branch Manager Aengevelt Leipzig.
