Shopping center, Salzburg, Austria

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Shopping center, Salzburg, Austria

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Total area: 7,300 m² Yield: 6.9%
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Features
  • Operating Incomе: 1,460,000 €
  • Land area: 4,780 m²
  • 2-floor building
  • Occupancy: 94%
  • Number of parking lots: 190
  • Most recent total renovation: 2011
  • Acquisition tax: 3.5%
  • Broker: 3.0%

A shopping center in Salzburg.

Description

A two-storey shopping center consists of two buildings and includes a two-level underground parking for 190 spaces (115 of them are rented for long-term rent).

The part of the building for sale is 51% of the total shopping center.

The management company is one of the largest holdings in Austria, which manages about 30 shopping centers in Austria.

Financial performance

The absolute annual income is 1,460,000 €.

The current yield of 6,9%.

The projected yield, in a condition that all premises are rented, will be 7,5%.

Tenants

The anchor tenants are large retail chains (clothes, footwear, manufactured goods), they occupy about 70% of leased space. 

The WALT is 4 years.

374 m² of retail space and 113 m² of storage facilities are currently in the process of being transferred to the lease.

Transaction costs

Fee for entering into the cadastral book is 1,1%.

Acquisition tax is 3,5%.

Brokerage fee is 3% + VAT 20% (total 3,6%).

Location

The property is located in the center of Salzburg, the fourth largest city in Austria, with a population of more than 149,000 people.

The shopping center is characterized by high traffic of customers (about 5 million people a year).

The central historical part of Salzburg is listed as a UNESCO World Heritage Site and attracts numerous tourists.

Salzburg is located in 145 km to the east from Munich, in 300 km to the west from Vienna, and only in 5 kilometers from the German border.

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Olga Starintseva
Real Estate Expert Tranio in Salzburg city
+44 20 3608 1267
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