Business centre 7,520 m² in Vienna

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.

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

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%

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.