Shopping center in Vienna.
Description
A one-storey shopping center with parking.
Type of purchase: Share deal/ Asset deal.
In case of Asset deal 20% VAT is added to the value of the property (the tax can be returned).
The shopping center is fully rented by two well-known Austrian companies.
The anchor tenant is one of the largest in Austria seller of bicycles and accessories for cycling with a turnover of about 7 million euros per year.
The lease agreement is valid until October 2022 and includes extension options for 5 years. The tenant has the right to terminate the agreement not earlier than December 31, 2019.
The second company is a part of a large holding company, which owns more than 140 stores of clerical and household goods in Austria.
The lease agreement is valid until August 2022 and includes extension options for 5 years. The tenant has the right to terminate the agreement not earlier than August 31, 2020.
Both contracts provide for annual indexation of rent.
Fee for entering into the cadastral book is 1,1%.
Acquisition tax is 3,5%.
Brokerage fee is 3% + VAT 20% (total 3,6%).
The cost of maintenance is 12,500 euros per year.
The property is located in a residential quarter of the southern part of Vienna on the central exit street with a large traffic flow.
There are food supermarkets, cafes, car dealerships, workshops, office buildings, elementary school on both sides of the street.
The distance to the center of Vienna is about 15 km.
