Sell the property completely or partial sale with investment?

Invest 10 percent in precious metals (gold and silver). The rest in stocks. From DAX, DOW JONES, or SMI. Large corporations. BASF, Nestlé, BMW, etc. And best to hold for decades. Much return and less stress than with real estate. But best to only use money that you really do not need in the coming years.

The old factory building is quite off-putting, I’m afraid. It is being used, so maybe no one realizes that it wouldn’t be needed.

Money doesn’t stink. In that respect, a property with potential can never be ugly in the eyes of investors.

If we sell the whole thing, the immediate question is what to do with the money?

Professionals also know that it won’t be a bitter tax pill for the sellers.

The family thinks they are sitting on a "treasure" they don’t want to squander lightly.

That’s exactly the problem with a multi-person partnership: in such a family / (potential) community of heirs, there is always at least one nutcase whose "value" expectations cause projects to fail. One person must be allowed to speak for all, otherwise no one commits. And very important: if a property can be attractive to someone because it is large, one should definitely not make a partition. Partition makes size small.

Money doesn’t stink.

[...]

Division makes size small

Now there are some sayings being thrown around here. So then: If size were the only thing that matters, dinosaurs would still be alive.

But as so often... it depends.

But both are facts that I would like to explain again:

Money doesn’t stink)
means: the attitude that the box is so ugly that it has to go is wrong. Because that is not what a property developer looks at.

Division makes size small)
means: even in areas where investors usually “habitually look,” they don’t always find what they want. Simply because among them there are those who are interested in large plots. If you first divide it so that each family line gets its half, you are making a mistake. The investor does the parceling. Later. But not the original seller before developing.

But both are facts that I would like to explain again:

Money doesn’t stink)
means: the attitude that the box is so ugly that it has to go is wrong. Because that is not what a property developer looks at.

Division makes size small)
means: even in areas where investors usually "look out of habit," they do not always find them. Simply because among them there are those who are interested in large plots. If you first divide them so that each family line gets its half, you are making a mistake. The investor parcels. Later. But not the original seller before developing.

11ant is right. Neighbor is a developer in the 2nd generation. They only do financing and planning, so they don’t build anything themselves. The hardest thing currently is probably the land. The pearls are always driven up in price. Anyone can slap a shell on it. Dresden is booming, so it’s already strange that a site isn’t interesting at all. I also don’t understand why the grandchildren should be hyped. They are probably your children. Then sell and give them pocket money for a project that fits their capacity. In the Bundesliga, you don’t put 2 Kreisliga players on the field to ruin the game. And this project needs money, veeeery much money.

One definitely has to check whether the 8000sqm can actually be developed with residential buildings. The development is also associated with effort, especially due to demolition, and then the question is whether 200€/sqm is realistic (no idea about the prices there), if more than 100€/sqm for development come on top.