House for sale in Koln, Germany

Property Description A detached building consisting of residential and office units (9 apartments, 9 offices), with 1 to 4 floors, a basement, a flat roof, a total living area of 910 sqm, and a usable area of 257 sqm. In addition, there is an entrance hall (97 sqm) and storage areas in the basement (159 sqm). The building was built around 1996 and renovated, modernized, and expanded from 2009 onwards. Apartment No. 4 on the 2nd floor is heated by an oil central heating system, and hot water is provided by electric devices. Unfortunately, this apartment was not viewable during the viewing. The building was constructed on the former grounds of the Belgian Kaserne Haelen and served as a command exercise area that could also be used as a bunker. The overall condition of the building is mostly satisfactory, but some refurbishment measures are required. Thoughts on Price The property is being auctioned by the competent local court with a market value of 5,690,000.00 EUR. There is a possibility to secure a 30% discount on the market value, bringing the price down to 3,983,000.00 EUR for the above-mentioned property. Additionally, notary costs and agent fees are waived. This represents a unique opportunity to acquire a property at a reduced price.