Sell the property completely or partial sale with investment?

Offices are, I think, the last thing anyone needs.

Wrong. There is indeed an oversupply – but mainly of poorly suitable properties.

The layman wonders why fancy office floors are slow movers, all top-notch, toilets tip-top and so on. But: no raised floors, underground parking not suitable for SUVs, and to top it off, Mc Eineuro as anchor tenant on the ground floor :-(

old silk weaving mills or similar properties. But none of them are really nice

A good example that it’s not the most beautiful properties that are developed, but those with the most determined investors.

What is often missed is the management of the tenant mix: the financial broker doesn’t want to be next to the kebab shop. Often success simply lacks the concept, then the union office is between the fitness studio and the key service – the fertility doctor won’t move there then.

Well, I don't really find it so monstrous that it requires a city-like development plan. It is a larger building, yes. But it is not an independent district. There are already tenants, which perhaps also somewhat reflects the current demand: offices for a surveyor from the construction industry, an artist, a tool dealer, storage space for files - so far. One could also consider having apartments upstairs and craftsmen, etc. downstairs. But we are not that far yet.

Well, I don't find it so monstrous that it requires a city-like development plan.

The family doesn't have to be big for it to be better not to seat Luise next to Uncle Rudi. It's not much different with a property.

Incredible but true - today the drillers are here and taking the samples to be able to calculate the statics of the walls. I have to check how long they let themselves be begged... Wait ... the decision and the order were both on January 16th. Now it's April 11th - almost 3 months just to do a test drilling. Hats off! If this continues like this, it will be a century project.

I would like to give some final information here. The soil report and the structural analysis are now complete. The result is a disaster for us. The existing building stands on a shaky pile of rubble - similar to a demolition heap. An extension of the building with more load on the foundation is therefore out of the question. For a new build, excavation of up to 7m deep would be necessary. Since it is a hillside location, it would still be great for residential buildings with underground parking. For us, however, it is unrealistic. Therefore, everything will remain as it is. If the need becomes great, a sale would be the only option.

The existing building stands on a shaky pile of rubble - similar to a demolition heap. An extension of the building with more load on the foundation is therefore out of the question.

That sounds unfortunate - but every ending is supposed to hold a beginning within it.