Project No.: 201812
This small and attractive group of apartment houses is situated in the middle of the Baltic resort Zinnowitz, which is known for its spa architecture. It includes four multiple dwelling units with apartments of various sizes. The desirable location and the proximity to the Baltic Sea gives the property extra appeal.
About the property
- Project category: Residential property
- Project type: Existing properties
- Building: 2008
- Purchase: 2018
- Investment amount: EUR 2.800.000
- (planned) revenue*: EUR 4.700.000
Note: *) This value is a forecast.
Usedom is the second largest island in Germany with an area of about 445 km². It is located in the Bay of Pomerania in the northeast of the state of Mecklenburg-Western Pomerania and has a total of around 76,000 inhabitants. A small part in the east of the island is on Polish territory.
The main economic activity of the island is tourism. Usedom has more than 40 kilometres of fine sandy Baltic Sea beaches, a fascinating hinterland including the Lagoon Area with species-rich flora and fauna as well as almost 2,000 hours of sunshine per year. In addition, the infrastructure for tourists is almost perfect. As a result, the island attracts over a million holidaymakers a year and the number is growing. Around 60,000 beds are available and the island now accounts for almost one sixth of all overnight stays in Mecklenburg-Western Pomerania.
Usedom is mainly visited by guests from Germany. The majority come from the eastern German states for historical as well as geographical reasons. Foreign tourists currently account for only about one percent of holidaymakers. The summer months are the peak tourist season, when there is usually full occupancy on more than 100 days.
Usedom is accessible via federal highways 110 and 111 as well as the train services of the Usedomer Bäderbahn. A modern bascule bridge in the north and south connects the Baltic Sea island to the mainland.
The Baltic resort of Zinnowitz is one of the main tourist locations of Usedom, along with the imperial resorts of Ahlbeck, Heringsdorf and Bansin. It is located in the northwest of the island, about 12 kilometres from the mainland town of Wolgast, and records around 900,000 annual overnight stays. Zinnowitz is characterised by tourism and typical seaside resort architecture. There is a promenade, a concert shell, a theatre and the 1,300-seat Baltic Sea stage.
Wiesenweg is located in the southeast of Zinnowitz about 5 minutes drive from the B 111. The area is lightly developed with one and two-family houses and small apartment houses. Many of them are rented out to third parties as holiday apartments. The local railway station, a discount store and the Zinnowitz campsite are located in the immediate vicinity. The beach, pier and the renowned Hotel Baltic with the integrated Amber Thermal Baths are about 1.5 kilometres away.