Steinweg, 06721 Osterfeld
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- 2 storey freehold property with 3 separate flats
- Desirable central location in an thriving town - 100m from the 'Markt' (town square)
- Internal area: 192 sq m (630 sq ft), plot size: 424 sq m (1391 sq ft)
- NO back taxes, debt or outstanding payments on the property
- Extensive local government grants available for refurbishment
(minimum of 30% or more!)
- High rental opportunity, outstanding capital gain potential (see further down this page for more details)
Reason for sale
Recently made redundant, I have a portfolio of good quality properties and am reluctantly having to sell some to manage the refurbishment of others. All properties I sell have good rental and re-sale potential as
they are situated in excellent locations.
I only offer high yield properties in well-established areas with a strong potential for post-refurbishment capital gain and rental opportunity. For an ambitious and intelligent investor - this property is an excellent buy with great return.
property is situated in the center of Osterfeld, a town in the Burgenlandkreis
district of the state of Saxony-Anhalt in Germany. The Burgenlandkreis district
has an estimated 200,000 population and its municipality capital is seated in Naumburg, which is
located only 10 miles north-west of Osterfeld.
is a very short walk away from the Rathaus (Town Hall) and all other amenities,
including shops, playgrounds and parks, bakery, pharmacy, local pub, and close
to the town’s main supermarket, Diska, which is a smaller
subsidiary of the sizeable supermarket chain, Edeka
(which has over 4,000 stores in Germany).
property itself was built around 1900. Other buildings which surround it include
residential and commercial properties. Neighbouring the house are new-build
three-storey flats with their own resident parking at the back. This house is
served by off-street parking.
property is in need of refurbishment. It is located in an Urban Redevelopment Zone (Sanierungsgebiet) which means the local government
will award a minimum of 30% or more of the total refurbishment cost. There are no planning
restrictions on the development of the property and it is not a listed
Left: Boundary plan showing plot size (click image or here for a bigger size). Middle: Floor plan for ground floor. Right: Floor plan for first floor.
total plot size is 424 square metres – This consists of the plot on
which this property stands, totalling 335
sqm, and an additional adjacent plot of 89 sqm which can be used to cultivate
crop, or get planning permission to extend or build a cabin or outside
internal area is 192 square metres – This consists of 3 residential units spread over 2
- Good solid structure; sturdy walls; wooden windows in
adequate condition but could ideally be replaced with energy efficient UPVC windows; stairs and flooring good condition.
- The roof of the main
house is water-tight with no leakage. However towards the rear end of the
property, the flat roof of the annex requires attention as there is some water
damage which is visible in two rooms: one located at the far
back end of the house on the ground floor and one room upstairs.
property is in need of refurbishment throughout. Internally, the layout of the
three flats could be improved upon and basic plumbing, electrics, joinery,
tiling and internal plasterwork is required. The property is in need of new
bathroom suites and existing windows are outdated, these could be replaced with
more energy-efficient UPVC windows.
- Externally, exposed brick-work can be rendered especially at rear of the
property for cosmetic purposes so that it fits in with surrounding houses (all of which are neatly kept). It
is customary for German tenants to fit and fund their own kitchen so a developer
need only provide the bare basics (such as plumbing, electrics and
- The flat
roof of the annex made of felt needs replacing as there is water damage. This is visible on the
ground floor in one room, and on the first floor, in one room adjacent to the
kitchen. These two spots have moisture
damage and debris (as depicted in the photographs below, taken in 2013).
- The ground floor annex could
be made into a bungalow unit. The façade
is in a good condition, the garden needs a trim. Piping, guttering and
rainwater pipes are in adequate condition. Basement is dry with crawling space
only. There are
numerous workmen in the town who advertise their services on their houses.
Building materials can be sourced from neighbouring Naumburg and Zeitz, as well
as Grana which has
many builder’s yards. These towns are easy to get to by car and are only 10-20 mins away.
Above - left to right: Front room facing road, ground floor flat, ceiling of room on ground floor, front room facing pavement
Above - left to right: Ground floor flat entrance and view, electric meter in ground floor hallway, ground floor toilet showing piping
- left to right: Stairs leading up to first floor, ground floor hallway, ground floor storage cupboard, toilet attached to second flat on ground floor Above
- left to right: Ground floor second flat with brown door on left leading to toilet, electric plugs, view from ground floor flat, room. Above
- left to right: Room, view from the window into garden and neighbouring flat car park from ground floor Above
- left to right: View of rear garage attached to property, ground floor rooms
- left to right: Ground floor front door entrance from road, stairs leading up to first floor, sky light in hallway on first floor
- left to right: First floor front facing room, kitchen and piping, hallway of first floor flat
- left to right: Sitting rooms on first floor, view from front-facing window on first floor
Above - left to right: First three pictures show moisture damage visible in one small spot on ground floor. Two pictures on right show visible moisture damage on first floor.
- left to right: View from front-facing window, ceiling showing plaster damage in first floor bathroom, piping and sink in first floor toilet
Above: View from upstairs windows, hallway and rooms in first floor flat
Neighbouring area and town:
Left to Right: Osterfeld sign-board, Steinweg/Markt showing Apothecary, Steinweg/Markt, florist on Markt, local shop on Markt
Above: Steinweg - two pictures on the right show the house from two different angles
Left: Roof of house from the front. Middle and Right: Rear of the house showing annexe
Left to Right: Front facade of house, flats opposite property, neighbouring entrance and driveway, view from Steinweg towards Markt showing close proximity
Aove: Diska supermarket - serving the town's needs
Above: Panoramic views above the town of Osterfeld as well as a selection of average of homes you will find in the town - all well-kept and high-value
invest in Germany?
investing in Germany you are investing in the powerhouse of Europe.
is the largest national economy in
Europe and the world's third largest exporter (after China and the US) – producing a fifth of the European Union’s output and a quarter of its exports. Despite
the turbulence of the global economic recession, the German economy grew every
year since the 2008 crash and is on a strong growth path for 2014.
Home to some of the
world's leading companies
like Audi, Volkswagen, Allianz, E-ON, Siemens, Adidas, Hugo Boss, Mercedes
Benz, DHL, Keuhne & Nagel and Nivea to name a few – the German economy is
one of the most robust and technologically advanced in the world. The country
has traditionally been very strong in a
few key areas including: machinery, chemicals, logistics and cars – but it
also fast becoming a digital hub in the Euro zone and leading the way in
investing in clean renewable
energy. By 2050, approximately 80% of electricity is set to come from
renewable sources compared to 20% now.
in Germany are changing. In 2012 alone, one
million people moved to Germany with the majority of arrivals from within
the European Union. The German
unemployment rate is one of the lowest in Europe at 7%
(April 2014). This fact alone is something most countries would envy and an
indicator of the strong and steady pace of economic growth in Germany.
German education system allows young people to learn practical skills through
apprenticeships. Vocational training – together with the vitality of small and
medium-sized enterprises (SMEs) called the “Mittelstand” – are a key plank of Germany’s
economic success story. The country has grown steadily and, unlike Britain,
managed to avoid a surge of lay-offs after the 2008 financial crisis. The country has the best participation rate of
women in the labour force with 72% holding down a job. New
legislative changes mean all German children will have the right to day-care
places from the age of one meaning the labour market is set to improve and
become even more competitive.
Germany is the most promising
place to invest your money in Europe. Excellent growth, low unemployment and job stability
mean that as a homeowner you can expect a stable and steady rental income, and
a profitable capital gain.
invest in Osterfeld?
is a charming and thriving town with a crisp blend of old and new-build homes. The
town is prime commuter distance from major cities of the states
of Saxony-Anhalt (e.g. Leipzig is 30 minutes by car) and Thuringia (e.g. Jena and
Gera are both 35 minutes away by car).
In terms of population, the town has 2,800
inhabitants giving it a pleasant and welcoming small town feel. The town is
served by a large supermarket called ‘Diska’ which offers over 6,000 products including fresh
meat, fruit and vegetables, dairy products and household items. The Osterfeld
branch of Diska is sizeable and has a bakery as well as butchers that serve the
town has many single family homes, some of which have swimming pools and are
beautifully well-kept with affluence on display (BMWs and Mercedes are a common
sight). On the hilltops, from a distance, you can see wind turbines which
generate clean energy, and there are walking trails in the surrounding
countryside for outdoor enthusiasts.
Above: Local lake, Kindergarten, View of town from main church, children's playground
History: The area around Osterfeld has a rich
historical legacy. The region is famous for its medieval castles, palaces and
churches. Romanesque and Gothic architecture is common in neighbouring Naumburg
with much of it dating back to the 13th and 15th century. Famous landmarks of
the town include the Cathedral of St Peter and Paul and the church of St
Wenceslas. The town of Naumburg was a significant trading centre in the Middle
town is served by three local hospitals. The Klinikum Burgenlandkreis situated
in Naumburg has 440 beds and ten specialty areas offering patients
comprehensive medical care (see here).
The Georgius Agricola Hospital in Zeitz has nearly 300 beds while the
Asklepious Klinik in Weissenfels also has 300 beds and specialises visceral
surgery, orthopedic/trauma care, oncology, hematology, cardiology and
neonatology. The local vet is a short walk away (their website can be found here). There are three general
practitioners in Osterfeld (with one catering especially for private patients)
and two local dentists. The town’s pharmacy is situated 100 metres away from
industries in the region include the manufacture of food, textiles, machinery
and toys. The Burgenlandkreis region is home to mining and engineering,
chemical, metal processing, logistics and wholesale and agricultural
region around Osterfeld is most famous for its numerous vineyards, where nature
parks and outdoor activities attract tourists from far and wide. The
wine-growing area Saale Unstrut (and the towns of Zeitz, Naumburg, Weissenfels,
Freyburg) are all located along the rivers Saale and Unstrut. Yet despite this
reputation for excellent wine-growing, only two percent of the entire workforce
in the Burgenlandkreis district is employed in the agriculture and fisheries
sector. The vast majority of people are employed by the commercial sector,
followed by transport and hospitality.
of the largest food processing and poultry houses are situated in this region. The
food and beverages industry as a whole is a thriving economy in Saxony Anhalt. Over
20,000 people are employed by 100+ different plants littered around the region,
generating sales of over six billion Euros. The agricultural land around
Osterfeld is used to cultivate grains (like wheat and barley) and sugar beet as
well as breeding and raising livestock.
According to official statistics for
Saxony-Anhalt, the rate of unemployment in Naumburg has fallen
significantly from 18% in 2006 to approx. 11% in 2014.
The town of
Osterfeld is surrounded by a dense network of cycle paths for biking
enthusiasts who like the countryside. Marked trail invite you to
excursions in the great outdoors. There are regional tour operators offering
numerous activities on the Saale and Unstrut - along the 60 km long wine road,
visitors can explore natural history or take in the culinary delights by bike,
boat, foot or bus. Canoe/boat rentals on the Saale and Unstrut are a great and
affordable way to explore the area (see here for more). The town has a local football team
and numerous clubs/associations, including the local bowling club which won the
national championships in 1996. A local band (see here) regularly hold
festivals and carnivals around Osterfeld castle, sometimes marching through the
town, with locals joining in the festivities. See here for pictures of local football matches. There are numerous other clubs and
associations in neighbouring Naumburg: everything from the choir and musical
groups to theatre, youth clubs, arts and crafts and sports clubs. A full list
can be found here.
There is an open-door nature bath
situated a short walk away from the property – which also has an adjacent football pitch,
playground for children, volleyball court and trails allowing you to bike
around the periphery of the town. The nature bath is open in the summer seasons
at very affordable prices (a family card for four people costs €6 while an
annual adult membership card is for €40 and for children €25. Individual trips
cost between €1.50 to €2.50).
Above: Ice cream shop, outside Nature Bath, Table tannis/playground, volleyball court
Above: School buses, School, Primary school, Castle, Osterfeld evangelical church and cemetary.The local
castle, situated next to the school, is located on a site of a 6th century
castle. It was expanded in the 11th and 12th centuries, and efforts were made
to preserve its original features. Immediately behind the castle is a small
cemetery from where there are beautiful views into the countryside around.
Transport: Osterfeld lies on the A9 high-speed
federal motorway (or ‘autobahn’) which runs between Berlin
(in the north) and Munich
(in the south). German autobahns are famous for being some of the few public
roads in the world without blanket speed limits for cars and motorbikes. So you
can expect to cut down on journey time to major cities, like Leipzig which is only 30 minutes away by car.
Above: Map of Osterfeld showing proximity to Leipzig, Gera, Jena, Naumburg, Halle and other major cities [courtesy: Google Maps]
By car, Osterfeld is in close
proximity to the following towns:10
(population of 34,000; local industries include the manufacture of
foodstuffs, textiles, machinery and toys). The German philosopher Friedrich Nietzsche spent his childhood and later years in
Naumburg. His home - now a museum - is a site for tourists. Every year, the
last weekend in June sees the city of Naumburg celebrate the Hussite Cherry
Festival. This festival, in honour of ripened cherries, dates back to the 16th
century. A picture gallery of previous festivals can be found here.
(largest town of the Burgenlandkreis district with a population of 41,000).
(Population: 11,000). 20
to Zeitz (Population:
31,000. Manufactures include machinery, chocolate, sugar, and textiles). 20
minutes to Freyburg (famous
for its vineyards. Home to the headquarters of one of the world's largest
wine companies). 30
to Leipzig (centre of
trade and commerce for time immemorial. Population: 530,000).
(an industrial center and major transportation hub with a population of
to Gera (the third largest
city in Thuringia, after Erfurt and Jena, with a
population of nearly 100,000). 50
to Altenburg (home to
34,000 people and the Leipzig-Altenburg
to Weimar (famous for
its cultural heritage, home to 65,000 people).. 1
to Erfurt (the capital
of the state of Thuringia, home to over 200,000 people and industry which
include metalworking and the manufacture of electric goods, shoes,
clothing. The city is also a major exporter of processed food and seeds).
to Jena (University City with a population of
Airport (served by Germanwings, Ryanair and Lufthansa)
FOR MONEY - Excellent Rental Opportunity & Post-Refurb Capital Gain!Sales of homes in this area are not too common given that it is a peaceful and pleasant little town.
The following two properties will however give you an idea of the potential for huge post-refurbishment capital gain:
- Click here to see a single family home on sale in Osterfeld for 200,000 EUR (+ 6% agent fees). Total internal area 180sqm.
- Click here to see a single family home in Stoessen (just 3 miles up the road from Osterfeld). Total internal area: 125 sqm. For sale at 170,000 EUR.
on this road (Steinweg) have been rented at between 5 to 6 Euros per metre
square which is exceptionally high in the region and reflects the robustness of
the rental market. At
these prices you can expect an annual rental income between 11,500 EUR and 13,800 EUR.
(euros p/m²) x 192 (total internal area
in m²) x 12 (months of the year) = €11,500
(euros p/m²) x 192 (total internal area
in m²) x 12 (months of the year) = €13,800
Once refurbished, the buyer of this property can expect a steady
income that is extremely rare to come by. None of the houses surrounding this
property are empty, derelict or under-developed. The central location of the
property makes it very popular and a sought-after location. But that’s not all…
division of this property in to three residential flats makes it very well
suited to the demographics of the town. Thirty percent (30%) of Osterfeld’s
population consists of families, while 40% of the population are singles or
double-income households with no children. Only 9% of the town's properties are
flats while the rest - 91% - are single family homes. Therefore there is a demand
in this area for flats.
average per metre square price in rural areas is usually between 3 and 4 EUR
but in this town it is between 5 and 6 EUR indicating great demand and
consequent upward pressure on the rental market.
flat next door to this property (totalling just over one hundred square metres) has previously been advertised for rental at between 5.5 to 6 Euros per sq metre.
charming little house is a superb buy with an excellent rental income potential
and resale value. The town of Osterfeld is located at perfect commuter distance
from all the major urban hubs of the Saxony-Anhalt and Thuringia region,
including the cities of Jena, Gera and Leipzig, an up-and-coming bustling city
with much urban regeneration and appeal.
property is eligible for a guaranteed minimum of 30% refurbishment grant from
the local council. For this kind of price in this kind of town, and for this
kind of central location, this property is most definitely an excellent deal.
If you are looking to invest your money for substantial profit margins and an outstanding return
– look no further!
- Please contact me before you
bid to confirm your interest in this property. This will help avoid
uncommitted bidders interfering with the auction.
- A non-refundable seller's fee amounting to £300 is
to be transferred to myself (seller) within 48 hours of the auction
- A separate £500 deposit is to
be transferred to myself (seller) within 48 hours of the auction ending.
This deposit is non-refundable in the event that the buyer fails to
complete the purchase, and will be
deducted from the final purchase price at the auction ending.
- The rest of the purchase price
is to be paid via the conventional buying process which will be overseen
by a certified and accredited German Notary Public who will be asked to
draw up a legally binding contract.
- Failure to pay within the above
time limits will entitle me to offer its sale to the next highest bidder or re-advertise.
- The Reserve Price for this
property is set at £8,900 (GBP).
- Transparency and security of
payment is ensured through the use of a credible and independent
court-sworn German Notary Public. Should the buyer have a preference for a particular notary, please inform myself (seller) of this.
- It is not possible to arrange internal viewings. The property can however be viewed externally at any time.
- PLEASE ONLY SUBMIT YOUR BID IF YOU ARE
CONVINCED YOU WANT TO BUY THIS PROPERTY
I am a trusted seller and have previously sold properties on Ebay.
This is a private listing so you can ** confidently and confidentially ** submit your bid.
will be fully guided through the buying process.
do not hesitate to ask questions or request pictures.
If I am unable to take your call, please leave a
voicemail or SMS. Or simply send me an eBay message and I will get back to you
on the same day.
Contact Jaan: 0044(0) 7960 554063
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