Auctioned: Rubbish property in Simmering for 4 million euros!

Auctioned: Rubbish property in Simmering for 4 million euros!

A vacant lot is for sale in Simmering that could be of interest to both businesses and neighbors. How meinkreis.at reported, the undeveloped property at Krausegasse 18-20 will be auctioned off. The starting price is around four million euros. Once owned by Mautner-Markhof-Gasse 55 Projekt GmbH, the company is now insolvent and no longer exists.

The property has been unused for years and has turned into a veritable garbage dump. The report estimates the value of the area at around four million euros and covers around 3,800 square meters. According to the information, interested buyers can contact the insolvency administrator directly, so a new owner can be expected soon.

Promising plans for new owner

The property comes not only with a high price but also with promising prospects. A building permit, which already exists, allows the construction of a residential and apartment building complex with 23 apartments on more than 1,100 square meters of living space. The zoning is valid until the beginning of 2027 and provides for apartments with a height of 3.5 meters or more.

Resident Maija Asunta-Johnston already has a clear wish: She wants the property to be converted into a park because there are hardly any outdoor spaces in the neighborhood. This was also taken up by KPÖ/Left-wing district councilor Florian Rath, who applied to the district council to rezone the area as a park and for the city to acquire the land from bankruptcy.

Criticism and concerns from politics

But not all groups found the proposal positive. SPÖ and FPÖ expressed concerns. In particular, FPÖ district councilor Andreas Eisenbarth described the proposal as “expropriation”. District councilor Stefan Tögl (SPÖ) also criticized the application and referred to an already dedicated parking area nearby. As a result, Rath withdrew his motion after the other groups had spoken.

Overall, it remains exciting to see how the situation around the property on Krausegasse will develop. It remains to be seen whether it will actually be converted into a park or whether a new owner will implement the plans for a residential complex.

For anyone interested in current developments in real estate and land ownership, the upcoming auction could certainly offer some interesting opportunities.

However, given the current circumstances, it is also important to check your own financial options abroad. Here is a brief exchange rate overview: Loud exchange rates, the current exchange rate is 1 USD = 0.8643 EUR. Such information could also be useful to potential investors.