Holiday residential complex

Holiday apartment complex in the town centre of Reit im Winkl with two solid structures and an extension, year of construction circa 1989/90, fully cellared with an underground connecting passage. The building at Gartenstraße 3 offers office, staff and reception space plus a 3-room apartment on the ground floor, three 1-room and two 2-room apartments on the upper floor, and three 1-room and one 2-room apartment in the attic storey. The building at Kaiserweg 2 has three 1-room and two 2-room apartments on both the ground floor and the upper floor, plus three 1-room and one 2-room apartment in the attic storey. In addition there is a sauna area, a fitness room and common rooms in the basement of Kaiserweg 2.

The complex is in a good residential location, with adequate access for private transport and connection to public transport (Rathaus bus stop circa 250 metres away). The subject property is heated by district heating and connected to public supply lines for water, electricity and telecommunications. Circa 15 parking spaces on the plot, plus a right of use for 9 further parking spaces on the neighbouring plot under an easement (Grunddienstbarkeit).

The structures are in average condition typical for their year of construction, with signs of use. Marketability, taking the market situation as at the valuation date into account, is assessed as below average, and a longer marketing period is to be expected. The report determines the asset value/intrinsic value (Sachwert/Substanzwert) as the decisive market value (Verkehrswert), with a future change of use to residential use regarded as a realistic option.

Wording of the local court, taken from the official auction notice.