Germ006 - Low Cost 2 Bedroom Apartment (appt 1A)

Germ006 Launch details

Launched May 2009

Issue Price £9.83

Property Value £2,950

Shares Issued 300

Equity Per Share 0.33%

Key Points Low Cost Apartment Good Residential Area 500 mt From Town Center Ideal For Re-sale

Shares Available sold out Share Price £10.23   Up 4.1% Commission (2.5%) £0.25 Total Share Price £10.49 Property Value £3,069 Up 4.1% Equity Per Share 0.33%

Total share price:  £10.49

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Synopsis

A low cost ground floor 2 bedroom apartment in a building of 7 apartments situated in Lessingstrasse,Glauchau, Saxony. The apartment is approximately 50 sq mt and requires refurbishing. Ftsie has purchased the complete block of 7 apartments. We will be launching each apartment separately. Because we have purchased the complete block, the prices of individual apartments are very low. We will be re-selling the apartment "as is" to the retail market and expect to realise a sale price of 20-40% higher than the launch price. Demand for low cost apartments like these is strong and many investors are looking to purchase, refurbish and then let these types of apartments.

Capital Growth

This block of 7 apartments was purchased for just over £19,000. Making an average cost for each apartment of £2,750. We expect to be able to re-sell these apartments for between £3,500 and £5,000 each. Making investors a 20-40% profit.

Property News

may 2009 -This property is being advertised for re-sale on behalf of investors.

Accounts

May 2009 - No accountable Items

Glauchau, Germany

Glauchau is a small town in Germany with a population of just over 25,000 residents. Glauchau is in the Saxony region, on the right bank of the Mulde, 7 miles north of Zwickau and 17 miles west of Chemnitz. It is part of the Zwickau district. Glauchau is twinned with  Lynchburg, Virginia and, since 1991,  Iserlohn, North Rhine-Westphalia. Glauchau was founded by a colony of Sorbs and Wends, and belonged to the lords of Schönburg as early as the 12th century. Some portions of the extensive old castle date from the 12th century, and the Gottesacker church contains interesting antiquarian relics.

Purchase Price

*Total Purchase price of a property, includes some or all of the following additional costs and expenses incured in completing the purchase of the property; Estate agents fees, lawyers fees , local taxes, stamp duty, valuation fees, fees for surveyor, title insurance, company formation costs, trust acc formation costs, letting and management fees, specialist advisors costs, listing cost.

Total share price:  £10.49

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