The city of Sigmaringen buys a historic house at Apothekergasse 3 - what that means for the previous owners.

The city of Sigmaringen buys a historic house at Apothekergasse 3 - what that means for the previous owners.

According to a report from www.schwaebische.de, the city of Sigmaringen has acquired the historic house at Apothekergasse 3. The previous owner, the Schmid family, originally sold the house to the real estate company ECO Investment GmbH, which belongs to the Nisanci family. However, the city exercised its right of first refusal and thus secured the purchase of the building.

Mayor Marcus Ehm states that the price the Schmid family first asked was unacceptable, but after it was lowered, the city decided to purchase it. However, the mayor emphasizes that the purchase price does not reflect the value of the building's substance and estimates that the city will have to invest a mid-six-figure amount in the renovation.

Despite the investment, the city plans to renovate the building and rent the ground floor retail space either to a retailer or as office space. The historic building, which was built in 1610, is one of the oldest in the city center and plays an important role in strengthening the city center of Sigmaringen.

The city's investment in the renovation and the associated strengthening of the city center could have a positive impact on the real estate market in Sigmaringen. The upgrading of the historic building could also lead to other owners of old properties in the area also renovating their buildings and thus increasing their attractiveness for investors.

With this step, the city of Sigmaringen is also demonstrating its commitment to preserving and enhancing the historical heritage, which can have a long-term positive effect on the real estate market and the city's attractiveness as a residential and commercial location.