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Rennweg 14/16 practical example: stunning metamorphosis
The project started with the search for a suitable property for a group of investors, for whom Property One had conducted an intensive investigation of the market. Once the property had been found – in this case, a 14th-century building – a comprehensive due diligence process took place, covering all the legal, structural, technical and financial aspects.
Property strategy as the foundation and the impetus
The aim was to display and reveal the hidden spatial development potential of all the possibly usable areas. Developing a property strategy enabled the property’s future value to be calculated and acted as the basis for purchase negotiations.
The restoration plan and subsequent planning application by architects was created in close collaboration with the relevant authorities, namely the district architect and the monument preservation representative. The property had not previously been given protected status but was listed in the register of buildings worthy of protection.
Goodwill, being prepared to compromise and attention to detail resulted in a positive solution for all involved. In the course of the renovation, many beautiful details covered up over the centuries by previous renovation work were revealed: painstakingly carved wood panelling, stuccowork ceilings and detailed carvings on the walls.
During construction, Property One’s project management and site management team had the task of coordinating the specialist planners and the different trade disciplines and controlling the costs, schedules and quality. Archaeological requirements and those of the fire service, building inspectorate and monument preservation authorities also had to be taken into account.
A wide range of services
Renowned interior architects were involved in the high-quality fit-out of the apartments, using colour and material concepts to create a bespoke aesthetic. The result was four unique apartments with a new lease of life. After being used in the interim as shop premises, the interior was re-designed and now has a specific tenant, an international retail company.
This stunning property is now fully rented on long-term rental agreements and has been successfully repositioned on the market as an investment property. This project showcases the range of services that Property One is able to offer its clients as an integrated service provider – from the search for a property, the design phase, embedding the investment strategy and the actual transaction through to planning, construction and marketing.
Read the full article about this project in our ONEfocus
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