Ochatz
In 2018 we invested extensively in a city in Saxony called Oschatz with the purchase of the housing cooperative Gemeinnützige Wohnungsbaugenossenschaft Oschatz (GWG). This project involved almost 300 separate residencies and eight commercial properties. How often does one have to visit a city before deciding to buy a property? Can one breathe life back into a city in provincial Saxony that feels like half an urban district, is close to the city centre, but with a vacancy rate of over 60 percent?
Yes, but only under one condition: One has to convince the locals. In our case that was not just the tenants, but also the employees of the old housing cooperative. The brief period of scepticism on both sides was quickly replaced by an extremely trusting and intensive partnership. The reward? A district of Oschatz has awoken to new life.
You can find further information on our project website www.uso.haus
