Commercial space with leading German chain stores and a cinema located on one of the pedestrian streets in Hamburg.
Description
The space was built in 1989. The usable area of the property is 2,800 m².
There is parking for 32 cars, also, there is a free city parking with more than 200 lots located nearby.
Absolute annual income is 356,627,28 €.
The current yield of 5.1%.
There are 8 tenants in the building.
Anchor tenants are two large clothing shop chains and a movie theatre.
The lease agreement with the first clothing shop is valid through 2024 and has extension options for 2x5 years.
The lease agreement with the second clothing shop is valid through 2018 and has extension option for 5 years.
The lease agreement with the movie theatre is valid through 2020 and has extension option for 5 years.
Notary (state registration) is 1.5 – 2%.
Acquisition tax is 4.5%.
The brokerage fee is 5.95%.
The property is located on the pedestrian street of the Bergedorf district.
Hamburg is the 2nd largest city in Germany (after Berlin) with the population of more than 1.8 million people. Hamburg is also the 7th largest and most populated non-capital city in the European Union. It is ranked 18th in the world for livability in 2016.
The city is home to famous leading companies such as EADS (aerospace), Airbus (civil aviation), Beiersdorf (beauty products).
Workers in Hamburg have the highest income of all federal states in Germany, averaging a median of 3,718 € a month.
Hamburg is among the leading networking locations. Congress Center Hamburg and Hamburg Exhibition Center attract 1 million visitors every year for various events and trade fairs.
Hamburg boasts an extensive tranport system. The Port of Hamburg is the largest sea port in Germany, 2nd in Europe and 9th largest in the world.
Hamburg airport serves about 17 million passengers per year (7th largest in Germany).
Hamburg is a global touristic destination. There are more than 40 theaters, 60 museums and 100 entertainment venues including famous night clubs and bars.
