Property Details:
- Address: 152 Berliner Allee, Weissensee, Berlin 13088, Germany
- Located in district of Weißensee in central Berlin
- Land is classified as land 244 and land parcel 182
- The plot size is 1031 m2
- Year of construction of buildings on site is circa 1890
- The property is not a listed building/protected
- The apartments of the main building and the mews are currently empty. One of the 2 retail units is rented on a short term basis which may be terminated, however, as it enjoys its own access, the investor may wish to continue with this tenancy.
Investment
This is an excellent investment opportunity that allows the qualifying construction costs of the redevelopment to be offset against all German rental income of the investor for tax purposes. The property already has full planning permission and this `ready to go' site has substantial existing residential and commercial buildings, situated in a bustling neighbourhood of central Berlin only 10 minutes by tram to Berlin's Mitte (city centre). The property is ideally situated beside a tram stop and accross the road from the scenic Weissensee lake and park.
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View of Rear of Main Building |
View of Mews Building |
Price:
€310,000 (Three Hundred and Ten Thousand Euro)
Tax Advantages
The development is located in the tax redevelopment
area "Komponistenviertel". According to § 7h German income tax act (EStG) redevelopment and modernisation measures are subject to tax deductibility. In the year the refurbishment is completed, and for each of the following seven years, an allowance of 9% per annum of eligible construction costs is deductable against an investors total annual German rental income tax bill. For each of the subsequent four years 7% of eligible construction costs are permitted per annum.
area "Komponistenviertel". According to § 7h German income tax act (EStG) redevelopment and modernisation measures are subject to tax deductibility. In the year the refurbishment is completed, and for each of the following seven years, an allowance of 9% per annum of eligible construction costs is deductable against an investors total annual German rental income tax bill. For each of the subsequent four years 7% of eligible construction costs are permitted per annum.