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Lot 1

FREEHOLD APARTMENT BLOCK IN THE TOWN CENTRE OF GEYER, SAXONY, GERMANY

FREEHOLD APARTMENT BLOCK IN THE TOWN CENTRE OF GEYER, SAXONY, GERMANY

 

Whole apartment block, near town centre – including former wedding shop and STASI SPY ROOMS!

 

WOW! Max potential awaits the winning bidder with this massive block, just a few steps from Geyer town centre!

 

Start off your new year in style as proud new owner of a grand German property!

 

The potential here is obvious from first impressions alone. Looking from the street side you can already start to imagine all the possibilities such a building presents. To the right you see the entrance to the former wedding shop and tailor, gigantic premises complete with a showroom, office bureau and stores.

 

Inside the shop, basements and attic some old stock remains including several sewing machines. The building is literally jam packed with such items, many sure to be valuable collectors items, which could easily be sold on.

 

Today Geyer (population ca 4000) is well and truly alive, the business premises here could certainly be cleaned up and rented out fairly easily. Alternatively, if you need your own premises complete with living quarters upstairs, then this is the right place for you.

 

Again, looking from the street side, on the left you see the other entrance taking you up to the offices and apartments upstairs, all the way up to the attic! There is a treasure trove in here of old stock, some still unopened which could be sorted through and sold on. We have not had time to go through it when taking photos, and the winning bidder should take this into account when bidding. Whilst there are items of value visible throughout the premises, there will also be some junk needing binned.

 

We recommend the winning bidder takes a very thorough look throughout all those filing cabinets and cupboards. Also who knows what could be hidden under the floorboards?  We repeat, whilst making photos in December, we never had the chance to take a proper look. Everything you see remains untouched!

Your vendor, Investment Link Ltd, has been sourcing properties throughout Europe for auction since 2003 and thought they had seen it all by now. However, this building certainly has a fair few surprises in store.

One we can now mention, was in fact a state secret! None other than the local state communications department, operated from one of the partially hidden rooms. You will find the room upstairs in the “offices” section. Previously disguised as a cupboard yet opening into a full blown, soundproof communications hideout!

 

Look beyond the soundproofing and you will notice the non-standard jacks and sockets still on the walls. Those were not simple phone lines, but used for sending and receiving encrypted communications. Who knows what was relayed in this very room and to what effect on the town! Some folders remain, marked “confidential” and “secret”, though (perhaps for the best), no files remain.

 

You can relive your very own cold-war era spy games in this room (ideal for a film set too!). Or why not set up a practice room / recording studios? What better use for a sound proof room nowadays. Truly a unique feature to have in any home!

 

As if the huge building up for auction today isn’t enough, the location will certainly meet and exceed all expectations. Literally every town amenity you may need is a few short steps from your front door. Just around the corner there’s a great takeaway too, not to mention some lively bars found nearer the town square.

Access is a doddle, within town (you are literally in the centre), and further beyond! A whole new country of opportunities starts just 15min away, in the Czech Republic! Every German in the area stocks up in CZ for certain products, being so close you can be doing the same all too easily.

 

Prague airport offers excellent, low cost connections to the UK and is easily reached along the motorway. Staying in Germany, both Dresden and Leipzig airports are approximately one hour away along the famed, smooth German autobahns. Again, loads of low cost flights at both airports to choose from, offering connections to the UK and the world.

 

Germany’s days of low property prices are numbered. The market well and truly bottomed out and the only way things are going is up!

 

Your vendor bought dozens of properties in bulk over the past five years and is now offloading, again in bulk. You have the opportunity today of entering the German market, whilst it remains easily in your reach.

 

The entire property clearly requires work, though as little as a thorough tidy up, cleaning and decorating can make it profitable from day one. Whether selling on the local market through agencies or here on auction, we are sure profits can be realised by simply presenting the property better. Photos were taken in December 2016, as little as a clear set of summer photos and a thorough clean-up are sure to yield better results.

A quick flip for profit is as good as guaranteed with this one. Otherwise those in it for the long run can overhaul the building, perhaps dividing into several apartment lets and offices. Or, for the armchair investors, simply sit back and watch the German market evolve.

 

As with any property in the whole world, bidders should always assume some work may be required. Furniture and fittings are usually included; however no inventory has been taken and none have been tested, including any appliances within the property. We have not counted how many chests of drawers there are, nor how many pairs of lace curtains are in the house etc. We have not made toast in the toaster, so have no idea if it works. You are bidding for 100% freehold ownership of the property itself. Any contents that may be left within the property, good and bad, such as treasure stashed under floorboards, rubbish thrown under the couch or between the seats, antique cabinets or broken furniture fit for the tip etc are the responsibility of the buyer.

 

YOU ARE BUYING A FREEHOLD UNENCUMBERED PROPERTY WITH DEEDS

SIMPLE PAYMENT TERMS : Full payment by bank transfer must be received in GBP by 5pm the day following the auction.

Ask all questions, request any documents you want to see before bidding. Just get in touch for anything you need to know and we will be pleased to assist.

We allow SIX months from end of auction date to visit your property and complete formalities.

Legal fees for conveyancing will be supplied at cost, by quotation once we know what the final bid is.

No further commissions and no hidden extras!

You may also complete formalities without travelling, using a UK notary.

REMEMBER Legal completion within 6 months required.

Legal Fees will be payable by the purchaser

* The description of the above lot by the auctioneer in the language of the auction is the governing description. Any translation using Google Translate is a guide only - its accuracy cannot be guaranteed and it is used at your own risk.
Auction sale details

2 X FREEHOLD PROPERTIES IN GERMANY & BULGARIA PLUS MANY MORE LOW RESERVE CARS & COMMERCIAL VEHICLES ENDING THURSDAY FROM 7PM

Ends from

Venue Address

Midland Asset Management Retford Road Markham Moor Retford Nottingham DN22 0QU United Kingdom
Auctioneer details

Brought to you by:

Midland Asset Management

Category
Property
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