Berlin: TOP city location - noble equipment - architect: Prof. Hans Kollhoff -

7.638,76 € per sq.m.

29,9

yes

1998

Superior

1.341 sq. m.

1.963,67 sq. m.

1.014,25 sq. m.

949,42 sq. m.

10.000 €

500.803 €

8

Pharmacy, Train station, Bus, Shopping facilities, Hospital

11 x Duplex, per item 150 €; 11 x Underground parking

Fitted kitchen, Open

yes

yes

Full cellar

yes

no

Tiles, Linoleum, Parquet flooring, Carpet

Well kept

Central heating

District heating

demand certificate - valid from 13.10.2014 to 13.10.2024

C

98 kWh/(m²*a)

1998

1 Minute(s)

5 Minute(s)

15 Minute(s)

25 Minute(s)

The corner property located at the former Oranienburger Tor with an area of 1,341 square meters has been developed with the ensemble Friedrichstraße No. 118/119 according to the plans and under the supervision of the internationally active architect Prof. Hans Kollhoff and then divided into six co-ownership shares according to the Residential Property Act and from there a homeowners association consisting of currently three co-owners emerged. The ensemble consists of two units, an office building ( 118 ) and a residential and commercial building ( 119 ), which are related in appearance, with the houses sharing a garden-style courtyard form and share an underground car park with an entrance on Hannoversche Strasse as well as all central supply systems including a district heating connection.

The appearance of the group of buildings is primarily characterized by a lively structured facade made of gray sandstone. However, the cladding was not formed as an abstract rectangular grid, but layered tectonically, so that horizontal and vertical elements make it possible to experience the scale of the buildings, indicate their construction and create an impressive play of light and shadow. Despite the large shop windows, the impression of a stable base is created and in the tower area an aspiring gesture, an interlocking of the narrow pillars with the sky. The shop windows and entrance doors are covered with precious bronze profiles, which give the lower floors a certain noblesse. The office building has bronzed aluminum windows on the upper floors, the windows of the tower structures are made of white-painted oak like the windows of the commercial building.
The corner building of the office building is accessed via a two-story colonnade that widens the narrow sidewalk on Friedrichstrasse. The floor covering in the colonnade is designed as a colored stone mosaic, the coffered ceiling accommodates outdoor lighting in the form of low-hanging lamps made of frosted glass set in brass.

The office building at No. 118 is reached through a generous bronze door system, framed by polished stone, into which the doorbell panel is integrated. The two-storey lobby is clad with white and green natural stone at the level of the entrance doors and plastered above. The bronze mailbox and directory are embedded in the stone cladding. The floor is designed as a mosaic of small-sized stones of different colors in a black border frieze. The lobby elevators feature bronze doors and stone soffits that correspond with the wall paneling. Like the floor lobbies, the floor of the elevator cabins has stone infill with a black border frieze, which reflects the color of the ground floor. All elevator doors on the floors have stone door frames.

Access to the residential and commercial building at No. 119, in which the 41 residential, commercial and basement units assigned to the rental property No. 4 of 472/10000, which is for sale here, are located as separate property, as well as the duplex parking spaces subject to the special right of use as well as balconies are located directly from Friedrichstrasse.

It is entered through a representative door system with bronze bell panels embedded in the polished stone reveal. The lobby is lined with wood paneling, with an integrated mailbox system and a large mirror that gives the rather intimate space a certain width. The homely character of the lighting also indicates the function of this house. The floor covering made of large-format green marble slabs, bordered by a black granite edge strip, looks like a carpet and gives the entrance area a touch of dignified elegance. The elevator with bronze doors in wooden reveals located next to the passage door to the representative and bright staircase on the courtyard side, with its veneered cabin paneling and the floor, also made of green marble with a black border frieze, creates the connection to the floor lobbies, whose floor is designed in the same way.

The residential and commercial building at No. 119 also has, in addition to the basement with underground car park, technical, storage and cellar rooms and the rear courtyard, 7 more floors with shop, office and living space, which are on the courtyard side from the 1st floor have balconies.

The special property in the basement includes 15 cellar rooms and 8 duplex parking spaces in the underground car park and 3 others each have a special right of use.

On the 7 other floors with a rentable area of 1,963.67 sqm there are 4 commercial and 14 residential units with areas of 109.25 - 179.76 and 55.40 - 167.95 sqm, which according to the certificate of seclusion and the declaration of division Individual property combined with the special right of use to the respective balconies and distributed over the floors as follows;

Ground floor; 2 retail spaces
1ST FLOOR; 2 office spaces, each with a balcony
2nd-5th floor; 3 residential units each floor, left + right each with a balcony
6th floor; 2 residential units, each with a balcony

Building permits are available for the changes in use that have taken place in the meantime for the three apartments on the 2nd floor to two office units and the left apartment on the 3rd floor to an additional office unit.

In addition, the middle and right apartments were put together on the 5th floor.

There are currently 7 commercial and 9 residential units in the building. With the exception of three units that were being prepared an subsequently rented out all of the other units were rented in December 2022.

The property is in a well-kept and structurally good condition. It is inspected weekly by a caretaker service and the necessary maintenance and repair measures are carried out by specialist companies on an ongoing basis, which can largely be passed on to the commercial tenants as well as the administration costs for the common and separate property due to the rental agreement regulations.

EVERYTHING IN IT
Not only the details of the external appearance of the group of buildings with the tower area, colonnade and the two elegantly designed entrance areas, which are described in detail in the property description, testify to the outstanding quality of the used materials, also the following additional lines for the equipment of the retail spaces, office and residential units.

The bright courtyard-side stairwell leading across all floors with its high-quality floor and stair coverings made of multi-colored stoneware and the solid handrails made of solid wood as well as the large windows ub the floor and the door system to the courtyard area convey a functional, but at the same time valuable impression.

Electrically extendable outdoor awnings are integrated into the floor-to-ceiling door and retail spaces window systems, which can be folded on the left and fixed on the right, and which, in addition to the additional equipment with high-quality stoneware floor coverings, can naturally regulate the lighting in the street-side area. In addition, both retail spaces have a basement room as well as the usual sanitary facilities for staff of both sexes in the rear side area. The other existing technical equipment of both retail units corresponds to their respective forms of use. The left-hand shop unit used by the Wiedemann bakery as a point of sale also has an air curtain over the entrance area along with supply and exhaust air systems, various high-voltage current connections, a safe, sales room lighting and a cellar room.

The two office units on the 1st floor with 6 and 3 office rooms are separated by a non-load-bearing walls and can therefore be rented individually or as a whole floor. They are both equipped with suspended panel ceilings with integrated lighting and each have contemporary sanitary facilities, kitchenette, hallway and spacious hallway as well as high-quality large rotating and tilting windows as well as a balcony to the courtyard-side, so that there is sufficient natural ventilation and lighting of these rooms is guaranteed.

The larger office unit on the left also has another entrance area, in which the server cabinet is located, as well as two air conditioning systems built into the paneled ceilings. Except for the tiles and parquet floors, the floor covering was renewed for subsequent rental.

The residential units each have a hallway, modern bathrooms with shower and tub, fitted kitchen and 2 - 4 rooms with parquet flooring, with the exception of the smaller medium-sized apartments, all of the others have a spacious hallway. All residential units also have high-quality floor-to-ceiling windows and the larger ones also have a balcony to the courtyard-side, so that sufficient natural ventilation and lighting in these rooms is guaranteed.

All retail, office and residential units have panel radiators and a connection to the central heating supply.

THE EXTRAS: GOOD TO KNOW
The non-load-bearing partition walls and the equipment of the residential and commercial units are largely variable and can therefore be adapted to the respective user requirements of the tenants without great effort.

Since there is already a separate fiber optic transfer point in the building, the new tenants can also be connected to it and use the many advantages of a high-speed fiber optic connection with speeds of up to 1 Gbit/s for digitization and the acceleration of their business processes at low cost.

Friedrichstrasse is the most important north-south axis in Berlin and runs through the districts of Mitte and Kreuzberg. Just a few meters from the property along Friedrichstrasse, in addition to a wide range of cultural offerings with Friedrichstadt-Palast, Quatsch Comedy Club, Admiralspalast, Komische Oper, there are also many shopping opportunities such as Galeries Lafayette and at the other end of the road the world-famous Checkpoint Charlie and much more. Of course, the location also impresses with its proximity to the famous boulevard Unter den Linden with its many sights such as the Brandenburger Tor, Humboldt University, Staatsoper, Kronprinzessinenpalais, Museums Insel, Berliner Kathedrale and the Stadtpalast.

The corner property is located at the former Oranienburger Tor at the intersection of Torstrasse and Oranienburger Strasse, which branches off diagonally opposite, with its many gastronomic and cultural facilities, promenades and sights in the immediate vicinity (Quartier "Am Tacheles", "Forum on the Museum Island", and much more). also the underground station and the tram station Oranienburger Tor as well as the S-Bahn station in Oranienburger Straße.

In addition, about 500 meters away, Friedrichstrasse has not only another underground and S-Bahn station, but also a regional train station, and only one station away is Berlin Central Station, which is located on the Spree and near the Chancellery and the Reichstag building, which offers various long-distance connections by means of ICE offers. Since the traffic connection for car traffic is also very good for a central location and many facilities of the Charite and Humboldt University as well as federal authorities are located at the back, the property is characterized by a more than extraordinary micro-location.

RENT RANGES AND AVERAGE RENTS
- Apartment 9.37 - 14.35 €/sqm, on average 11.69 €
- Commercial 22.74 - 33.32 €/sqm, on average 26.36 €
- Pitches €100.00 - €154.70/pc, on average €109.95

ADDITIONAL RENTAL WITH SUCCESS RENTAL
The difference between the specified annual target and actual rent corresponds to the old rents of the apartment in the follow-on rental phase in December 2022 and the two commercial units plus parking spaces, with the specified annual target rent falling in particular due to the rents that can be achieved in this attractive location expiry of three other old contracts from the years 2010 - 2012 in January and September 2023 for three commercial units in the future by around €60,000.00 p.a. and should then amount to around €520,000.00. Based on the purchase price given here, this would correspond to a factor of 32.6.

LINKING TO THE INDEX CPI
In December 2022, 8 of the 13 rented residential and commercial units with a current actual rent of €261,401.00 p.a. are value-secured through the link to the development of the CPI index, which already corresponds to 75.47% of the current annual actual rent, If you add the expected rental income from the forthcoming follow-up letting of around €173,701.00 (€113,701 + €60,000), the figure will be around 83.67% towards the end of 2023.

SALES TAX OPTION AND INPUT TAX DEDUCTION
Since all commercial tenants provide services that are subject to sales tax and the landlord has waived the tax exemption in accordance with § 4 No. 9a UStG and has opted for sales tax liability in this respect, all commercial leases provide for a separate calculation of the statutory sales tax by the landlord. This means that full input tax can be deducted for the acquisition, production and other costs directly attributable to these commercial units.

In the case of acquisition, production and other costs that are not directly attributable, input tax can be deducted proportionately according to the existing relationship between the rented areas that are subject to VAT and the vacant areas that are intended to be rented out subject to VAT to the total usable area of the property. This is currently 949.42 sqm of 1,963.67 sqm without taking into account the basement and storage areas as well as parking spaces, so 48.35% of the input tax amounts shown in the respective invoice documents are deductible. If split according to the sales ratio, 68% of the reported input tax amounts would be deductible.

HOUSE MONEY AND ADVANCE PAYMENTS ON ADDITIONAL COSTS
The monthly housing allowance to be paid to the WEG on the basis of the housing allowance settlement for 2021 decided on December 12, 2022 and the business plan for 2023 is €6,744.08 from January 2023.
The advance payments by the tenants for the ancillary costs were increased retrospectively as far as possible from January 2022 and otherwise at the next possible date and amount to around €7,800.00 from January 2023.

MAINTENANCE RESERVE
The proportionate addition to the maintenance reserve to be paid monthly in addition to the housing allowance is unchanged at €499.92, together with the housing allowance, a total of €7,235.00 is to be paid to WEG from January 2023.
According to the WEG administrator, the maintenance reserve of the WEG that will still exist at the end of 2022 should amount to around €123,000.00.

PAYABLE ADDITIONAL COSTS
Regulations in the commercial leases, which in particular significantly reduce the ancillary, maintenance, repair and renewal costs that cannot be passed on to the tenant compared to comparable properties;
- wide definition of additional costs (administrative costs)
- The tenant bears the installation costs for the rental object
- The tenant bears repair costs outside of the rented property per year with up to max. 10% of the annual net cold rent

REPAIR AND MAINTENANCE MEASURES
In the next 5 months, the WEG is to repair the damaged plaster surfaces of the stairwell and in the course of this the wall and ceiling surfaces will be given a new coat of paint. During this period, the seller will also refurbish all courtyard-side balcony floors along with wall connections and then also give the visible parts of the metal construction and the surrounding facade area a new coat of paint.

The execution of these measures by the WEG or the seller is priced in, insofar as the buyer would like to carry out the measures that have not yet started by himself, the purchase price can be reduced accordingly.

FURTHER ALLOCATION OF RENTAL PROPERTY
In accordance with the powers of attorney contained in the notarial deeds for the declaration of division along with supplements, the further division of the co-ownership share No. 4 entered on a mixed land register sheet on the basis of newly created floor plans with the subsequently added balconies is currently being carried out accordingly with regard to the rooms not used for residential purposes by the procurement modified certificates of completion, as these do not fall under the regulations of the Federal Building Land Mobilization Act that apply to housing until the end of 2025 and thus also the corresponding conversion ordinance according to Section 250 of the Building Code of the State of Berlin.

As soon as the correspondingly changed certificates of seclusion are available, the corresponding applications for copying and creating the new land register pages for the part-ownership units are submitted to the responsible land registry office and, based on the newly created floor plans, also with regard to the rooms used for residential purposes, the further division is prepared by obtaining a correspondingly changed certificate of seclusion, so that these are issued to the approval authorities in good time before the foreseeable run in 2025 and the applications for copying and attachments of the new land register pages for the condominium units after the expiry of the Building Land Mobilization Act and thus also the Conversion Ordinance shortly after the next federal election towards the end of 2025 are submitted to the responsible land register office as well as the new land register sheets can be created.

FORM OF SALE AND VALUE TAX
The sale can take place as part of an asset or share deal.

In the case of a sale, a corresponding clause would be included in the sales contract for the purchase price, which assumes a non-VATable business sale as a whole according to § 1 Para. 1 a UStG and the seller as a precautionary measure with regard to that part of the purchase price that relates to the parts of the property that are rented out subject to VAT at the time of handover of the object of purchase and those parts of the object of purchase for which a rental subject to sales tax is intended, waives the sales tax exemption in accordance with § 4 No. 9a UStG and opts for sales tax in this respect.

If, contrary to expectations, it is not a matter of selling the business as a whole, the buyer would owe sales tax on the parts of the object of purchase that fall under the option in accordance with § 13 b UStG, which this, however, if the use is continued accordingly, in the same amount as deductible input tax amounts with this could offset, so that the buyer would not be charged as a result.

Depending on the allocation key, between 48.35 - 68% of the input tax amounts contained in the additional acquisition costs (agent, notary, etc.) can be deducted by the buyer.

The buyer has to pay a commission of 6% plus sales tax of 19% on the purchase price. In the case of a share deal, the commission is calculated on the market value of the property used to calculate the purchase price of the shares, which corresponds to the purchase price shown here.

The information we provide is based on information provided by the seller. No guarantee or liability can be assumed for the correctness and completeness of the information. An intermediate sale and mistakes are reserved.

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