A project with several commercial premises, leased to reliable tenants.
Description
A large renovated office building is under architectural protection of the state. Access to the building is provided from the street.
Project handover — no later than the end of 2020.
There are apartments on the upper floors. On the lower floors (3 levels) the commercial premises are situated: 2 large supermarket chains, a well-known chain fitness studio and an Austrian famous chain restaurant.
Total (portfolio):
- Total area — 7,520 m²
- 79 parking spaces in the property + right to use 184 parking spaces
- Share deal
Object 1 — Large chain supermarket:
- Ground floor
- Total area — 2,330 m²
- Sales area — 1,660 m²
- Storage rooms — 680 m²
- The right to use 150 parking spaces
Object 2 — Large chain supermarket (discounter)
- Second floor
- Total area — 1,688 m²
- Sales area — 1,200 m²
- Storage rooms — 500 m²
- 50 parking spaces in the property
Object 3 — Chain restaurant
- 2 floors
- Total area — 1,478 m² + terrace 195 m²
- The right to use 13 parking spaces
Object 4 — Chain fitness studio
- Third floor
- Total area — 1,894 m²
- 29 parking spaces in the property + right to use 21 places
- Bank branch of 30 m²
It is possible to purchase the premises separately.
Overall performance:
- The cost of the property: 33,130,000 €
- Absolute annual income: 1,490,850 €
- Average yield: 4.5%
Object 1:
- The cost of the property: 9,990,000 €
- Absolute annual income: 390,000 €
- Current yield: 4%
Object 2:
- The cost of the property: 7,990,000 €
- Absolute annual income: 300,000 €
- Current yield: 4%
Object 3:
- The cost of the property: 6,990,000 €
- Absolute annual income: 299,490 €
- Current yield: 4,2%
Object 4
- The cost of the property: 9,990,000 €
- Absolute annual income: 501,360 €
- Current yield: 5%
Object 1:
- Refusal to terminate the lease agreement for 10 years, before the metro station opening
- Rent: 32,500 €/month + VAT. After the metro opening, the rent will depend on the turnover but will be not less than 36,000 €/month + VAT
- Indexation: the first — when inflation reaches 3%, the second — at 4%, then always 5%.
- Tenant investment: about 4 mln €
Object 2:
- Refusal to terminate the lease agreement for 12 years
- Rent: 25,000 € + VAT
- Indexation: 3 times when inflation reaches 3%, then 5%.
- Tenant investment: about 2 mln €
Object 3:
- Refusal to terminate the lease agreement for 10 years + 2 renewal options for 5 years
- Rent: 25000 €/month + VAT
- Indexation: annually (inflation), the 80% of the rent is indexed
- Tenant investment: about 2 mln €
Object 4:
- Tenant investment: about 500,000 €
- Rent: 42,000 €/month
- Refusal to terminate the lease agreement for 10 years + 2 extension options
- Indexation: the first — at 3%, the second at 4%, after — at 5% of inflation
Brokerage fee: 3% of the value of the object.
Related costs:
3.5% — real estate purchase tax;
1,1% — fee for cadastre entering;
The facility is located in a green office and business developing quarter of Vienna, near a busy street leading south.
The area is located close to the center and has a developed infrastructure. Opposite the building, the construction of about 1,200 apartments and commercial premises for 100,000 m² has already begun (partly subsidized by Vienna/ Austrian government).
Not later than 2028, a metro station will be opened opposite the building Construction of the metro line has already begun.
