Assessing the Real Estate Market Value in Bochum-Weitmar
In the heart of Bochum-Weitmar, a burnt-out timber-framed house at Blumenfeldstraße 114 has captured the attention of buyers and developers, despite its uninhabitable state. The high price of around 400,000 euros for the property primarily reflects the value of the large, well-situated plot of land, which stands at nearly 1200 square metres.
The property, acquired by Hans Braselmann in 2023 before the fire, is now up for sale. The building, unfortunately, is in such a state that it needs to be demolished, as stated by the owner himself. This decision is not surprising, given the expert opinion that only the demolition of the building and other facilities can be assumed.
The desirable neighbourhood, with its quiet residential character, green spaces, and good infrastructure connections, makes the area attractive for redevelopment into modern housing. The plot, situated between a nature reserve on the rear side and Blumenfeldstraße on the front, offers ample opportunities for new development.
Potential plans for the site include demolishing the burnt-out house entirely and constructing new residential buildings, such as single-family homes or small multi-family units. There is also a possibility of subdividing the large plot into multiple lots to maximise the use and return.
The local zoning plans for Blumenfeldstraße 114 likely support residential redevelopment, making the site valuable for investors aiming to build new, up-to-date housing that fits market demand.
It's worth noting that both of Hans Braselmann's sons, also from the same industry, have also stepped back from the project. The burnt-out timber-framed house at Blumenfeldstraße 114 in Bochum-Weitmar is currently for sale, and the owner, now over 80 years old, no longer wishes to undertake the project.
The property's location offers easy access to shopping options, a 15-minute walk to the Schlosspark, 5 minutes to the bus and train station, 7 minutes to the nearest kindergarten, 10 minutes to the elementary school, and about 10 minutes by car to the Bochum main station.
The editorial team of the news outlet tests a local restaurant in Bochum weekly and provides an overview of the restaurants they have tested. This week, they recommend "Der goldene Apfel," a charming restaurant located just a stone's throw away from the property.
Hans Braselmann is selling the burnt-out property at Blumenfeldstraße 114, with plans to demolish and redevelop the site for modern housing, making it valuable in the finance and real-estate market. The property's prime location in the attractive neighborhood, with good infrastructure, is ideal for potential investing opportunities in the residential-redevelopment sector.
