Partial ownership of commercial space in a mixed-use property

Partial ownership (co-ownership share 122/1,000) in a mixed-use building complex with commercially usable rooms in the attic of the property Kondertal 2 in Koblenz. The building was originally used for gastronomic purposes (restaurant/hotel) and has extensions from 1980 and 1995. It is located in an isolated position in a narrow side valley of the Moselle.

The partial ownership unit C to be auctioned comprises 115 m² of usable floor space with commercial potential (11 beds at 15 euros per day with an average occupancy rate of 30 percent), distributed across the attic floor with six rooms and associated bathrooms. The room layout shows typical simple accommodation without catering, with room sizes not meeting modern standards.

The condition of the building is characterised by considerable maintenance backlog: partial damp damage in the basement, cracking, render damage, the facade at the rear of the building is in need of renewal, the heating system is defective and wooden parts require renewal of the paintwork. On the rear of the building there are unauthorised extensions of lightweight construction without weather protection. The overall concept is fragmented by the division of ownership under the WEG and can only be operated economically as a whole.

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