City buys empty Galeria Kaufhof department store property for just over 11 million euros

City buys empty Galeria Kaufhof department store property for just over 11 million euros

According to a report by rp-online.de, the main committee of the city of Neuss has decided to acquire the empty Galeria Kaufhof department store property at a price of just over eleven million euros, plus notary fees and real estate transfer tax. What is interesting is that, according to the land value, the property is worth almost ten million euros, which means that the city of Neuss got a bargain. Only the AfD voted against the purchase of this property.

With this property acquisition, the city of Neuss will probably promote the revitalization of the city center and create new opportunities for the use of the area. The property's central downtown location and its size make it an attractive property for potential investors. The purchase price of eleven million euros, plus additional costs, could prove to be a smart move in the future if the city is able to make optimal use of the property or sell it.

For the real estate market in Neuss, this purchase could lead to an increase in demand for inner-city properties, especially in central locations. This could affect the prices of comparable properties in the area and potentially result in an increase in property values. Investors could become increasingly interested in projects in the city center, which could lead to a revival of the real estate market.

The purchase of the Galeria Kaufhof property by the city of Neuss is therefore a significant event that could potentially have positive effects on the real estate market and urban development. It remains to be seen how the city will use the acquisition and what changes in the real estate industry in Neuss will result from it.