The Vision Group, a nationwide active residential real estate investor and asset manager, has acquired the MAINVEST residential complex consisting of 69 rental apartments and two commercial units at Mergentheimer Straße 120 in Würzburg. The purchase price is in the low double-digit million range.
The nine-storey building has a total rental area of around 5,300 m². The average apartment size of the property, which was built in 1964, is almost 75 m². The property includes 15 individual garages and 37 outdoor parking spaces. The two commercial units with a total area of around 100 m² are on the ground floor, where two medical practices are housed.
“With the acquisition of MAINVEST in Würzburg, we are expanding our Bavarian portfolio with a property with excellent potential for appreciation. We are renovating and modernizing the property and having the drinking water quality checked by a large German institute and an Austrian laboratory specialist in order to promote the consumption of tap water and reduce plastic waste,” says Niclas Wallrafen, COO and partner of the Vision Group.
The residential complex in the district of Heidingsfeld is within walking distance of the Main. Numerous shops for daily needs are in the immediate vicinity. Würzburg main station can be reached in 30 minutes via the Wiesenweg bus stop.
Würzburg has around 130,000 inhabitants and is the seat of the government of Lower Franconia. There are connections to national road and rail traffic via the Würzburg main station and the A3, A7 and A81 motorways near Würzburg. Frankfurt am Main is around 70 minutes by car from the site.
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