Residential and commercial building in need of refurbishment with office annexe

Three-storey residential and commercial building with office annexe on the Rahserfeld in Viersen, located in the Rahserfeld/Dinsingstraße commercial area, with good transport links to the motorway and to the centre of Viersen, around one kilometre away. The main building was presumably erected before 1900 in brick masonry with timber-joist floors and was converted into small flats in the roof storey around 1932, supplemented by a three-storey office annexe with adjoining car garage, legalised in 1995. In addition to the developed main plot (Flurstück 877, 3,044 m²), two smaller undeveloped Flurstücke are included in the market value appraisal, allocated to the economic unit as traffic area and plot strip respectively. Rooms in the residential building are partly let, but no, or only incomplete, building permits exist for the current use.

The property is largely in need of core refurbishment and in places dilapidated: damp and black mould in the cellar, a heating system shut down by regulatory order, electrical installation largely in need of renewal, and weathered, partly rotten balcony structures without assured structural stability. The market value appraisal took into account refurbishment costs of at least around 1,500,000 euros, opening up considerable upgrade potential for buyers ready to refurbish.

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