Investment project in Monchengladbach, Germany, 1 435 sq.m

The project provides for the reconstruction of the building for a care home for the elderly.
The building was built in 1985, in good condition. It is located in the city center, not far from the central pedestrian street. All necessary infrastructure is located nearby.
Land area ~ 635 m2
The total area for rent is ~ 1435 m2
The cost of the plot is 1,800,000 euros
The total cost of reconstruction will be ~ 1,200,000 euros
Available financing options:
1. a valid loan in the amount of 1.2 million euros at a rate of 1.49% per annum with the possibility of increasing the amount by an additional 230,000 euros.
2. An agreed loan in the amount of 1.9 million euros.
3. A confirmed and still unused right to finance repairs in the amount of 570.000 Euros is available.
There are two options for making a profit after reconstruction:
1. The sale of the object at a cost of ~ 4,500,000 euros.
2. Rental with an income of ~ 225,000 euros per year, followed by an increase in the rate to 235,000 euros per year.
To date, there is a large and confirmed interest in renting this house for 15 years, with subsequent prolongation.
A construction permit is in the process of being obtained.
The commission for the buyer is + 3.57% of the cost of the object.
Additional information can be provided upon request.