New detached commercial building with the project for reconstruction and expansion of the area in one of Vienna's shopping areas.
Description
The shopping area is one of the largest in the city, there are shops of large chain tenants: McDonalds, OBI, Media Markt, Intersport, Möbelix, etc. There are also many other small shops.
The clients of this shopping center are more than 700,000 people living around the shopping area.
The useful leased area after reconstruction will be about 3300 m², the total area – about 3700 m².
The general contractor performing reconstruction works gives a guarantee for several years in accordance with the law.
The tenant will install all the necessary equipment and systems in the building.
Completion of the project and opening: November 2020.
Deal type: share deal/ asset deal, forward purchase (conditions as agreed by the parties).
Tenants
Tenant is a European chain of sporting goods stores with more than 1,500 stores in 49 countries.
The lease agreement will be signed very soon, the agreement is irrevocable and valid for 10 years, with a guarantee of 1.5 million euros + bank guarantee for 3 rents.
Rent: about 620,000 €/year in the first two years and about 660,000 €/year from the third year.
Location
The property is located in one of the largest shopping areas in Vienna.
Vienna is the capital of Austria with population of over 1,800,000 people.
Vienna is the 3d city-residence of the United Nations after New York and Geneva. There are the headquarters of such international organizations as OPEC and the OSCE here. Vienna 9 times in a row took the 1st place in the world for quality of life (Economist, 2018).
Public transport is well developed in Vienna, a chain of autobahns and railways connects Vienna with other cities in Austria and Europe. Schwechat International Airport is the largest in Central Europe, with more than 60 airlines from around the world registered, annually serving more than 14 million passengers.
