Riedstadt: Affordable property with a relaxation factor
Affordable property with a relaxation factor
A home that is attractive and affordable at the same time? With the privatization of 24 apartments, Noratis made exactly that possible – in one of the strongest economic regions in Germany.
Do you know Goddelau? Probably not, but Goddelau is much more than the tranquil area of a small town in Hesse. If you arrive by S-Bahn or by car, the first thing that catches your eye is the countryside and vast fields. Nevertheless, Riedstadt-Goddelau lies close to Darmstadt in the Rhine-Main region and thus in one of the strongest economic regions in Germany. In other words, those who live here can combine work and relaxation in a special way, provided there is attractive living space. This is exactly where Noratis AG came in: The developer has transformed a previously inconspicuous, grey residential complex into a bright, friendly place to relax, and created affordable residential property 24 times over.
But one after the other. When Noratis acquired the residential complex Moselstrasse 25-29 in 2015 built in 1970, the building had suffered the ravages of time. The former white house facade was faded and had partially peeled off. The house had a grey and dreary appearance. The surroundings were also uninviting, the outdoor areas had house waste and other rubbish laying on the ground. One of the tenants recalls: “With the dirty facade and neglected garden, our house looked like it had seen better times, even if the location itself was and is really appealing.”….
|Properties||Residential complex with 24 apartments, 6 garages and 18 parking spaces|
|Rental area||2,200 m²
|Strategy||Sale of individual apartments|
|Sales completion||June 2020
|Project duration||56 months|
- Roof / facade insulation
- Renovation of balconies and railings, house entrances, staircases, common areas
- Painting of the facade
- Redesign of the outdoor facilities
- Insulation of basement ceilings
- Partial renewal / renovation of windows