Insolvency Administrator Florian Zistler announces Details on the Sale of the “Big Hole” in Kempten

The insolvency administrator Mr Florian Zistler from PLUTA Rechtsanwalts GmbH announced the schedule for selling the property on August Fischer Square in Bahnhofstrasse at a press appointment in Kempten today.

The sale of the land with the completed underground garage will be sold by means of a two-stage bidding process. The highest bid will secure the deal. Investors may submit their initial bid by 15 September 2017. The second round of bids is scheduled for October 2017. The aim is to conclude the sale in November of this year.

The attorney Florian Zistler will sell the property covering an area of 2,031 square metres as part of the insolvency proceedings for Ritter & Kyburz GbR. In the region, the property is known as the “Big Hole” since the construction project had come to a standstill after the excavation work had been completed and parts of the underground garage had been built. The underground garage has now been completed.

The data room for the investors was activated today. Interested parties will be able to find all the relevant data there, such as building plans, surveys and the development plan. The insolvency administrator Mr Florian Zistler explained, “There is a great demand for the property. We have a lot of interested parties. I am optimistic that we will be able to achieve good proceeds. We intend to conclude the sales process in November.”

The sales process is being supported by impro Immobilienverwertung GmbH. This company has been active throughout Germany as a specialist for selling real estate involved in insolvency proceedings since 1993. Those people interested can have themselves accredited for the bidding process by Mr Kai Hennig at hennig@impro.de. Further information on the property can be obtained on the website www.impro.de.

Following the decision taken on 3 May 2016, the Local Court of Kempten had opened insolvency proceedings for the assets of Ritter & Kyburz GbR that manages the property located at Bahnhofstrasse / August Fischer Square and had appointed Mr Florian Zistler from PLUTA Rechtsanwalts GmbH as the insolvency administrator.