Commercial premises, Vienna, Austria

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Commercial premises, Vienna, Austria

33,130,000 €
4,405 € /m²
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  • Total area
    7,520 m²
  • Yield
    4.5%
Details
Property parameters
  • Number of parking lots: 263
Financial performance
  • Annual income: 1,490,850 €
Tenants
  • Fully let
Transaction costs
  • Acquisition tax: 3.5%
  • Broker: 3.0%

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.

Financial performance

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%

Tenants

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

Transaction costs

Brokerage fee: 3% of the value of the object.

Related costs:

3.5% — real estate purchase tax;

1,1% — fee for cadastre entering;

Location and nearby infrastructure

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.

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