Diez, Wilhelm-Straße

Notarized Purchase Agreement and Future Utilization of the Property

In spring 2022, the purchase agreement was notarized. The building permit process ran concurrently and was completed in summer 2022. A long-term master lease agreement for the entire building has been signed. In the future, the 2,680 sqm of usable and residential space (approximately 3,500 sqm GFA) will accommodate a bakery, a café, an event space, and 30 apartments.

The four-story multi-family building, constructed into the slope of Wilhelmstr. 47 in Diez, was built in the early 20th century. In recent decades, it has primarily been used for conferences, events, and accommodating participants. As part of these functions, a complex and costly metal escape staircase was added in the courtyard, providing a second evacuation route in case of fire. This structure expands usage possibilities and enhances the property’s value. The building is in generally good condition, requiring no structural modifications and only minor renovations, such as replacing some doors, flooring, and selected windows.

The property consists of three different usage zones. The ground floor provides approximately 430 sqm of commercial space. A bakery with an in-house oven and an adjacent sales area will be established here. Additionally, a café with a seating capacity of up to 40 people and direct access to the bakery will be created. Fire doors separate this section from the upper floors. A fire protection concept, developed by experts, has been approved by the relevant authorities.

The second and third floors (left wing) contain a 500 sqm event space accessible via a separate staircase. This venue can accommodate weddings, christenings, celebrations, gatherings, meetings, and performances. It is equipped with a fully functional bar area, including a refrigerated storage room for beverages. A stage area allows for theater and dance events, with a total capacity of up to 200 guests.

On the right side of the building, the first, second, and third floors house 30 apartments, ranging from 18 to 35 sqm, covering 1,700 sqm in total. These functionally designed apartments are intended for long-term tenants and have a separate entrance, allowing independent use from the other sections.

A ten-year master lease agreement has been negotiated and signed with a local restaurateur, securing long-term utilization of the entire building.