Braunschweig region: British investors buy 502 residential units
Investors from Britain have acquired a portfolio of 502 residences from Wolfenbütteler Baugesellschaft mbH. A group of 202 residences are located in the Oker district of Goslar and a further 146 are in the Bündheim and Harlingerode districts of Bad Harzburg. The sale to Burntan/Merington GmbH yielded proceeds of several millions according to the Braunschweiger Zeitung. The apartments which, in part, are in poor condition are to be renovated for €1.5mn. The buyer signed a social charter that prohibits re-sale in less than three years.