Commercial center, Essen, Germany

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Commercial center, Essen, Germany

6,450,000 €
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Total area: 3,974 m² Yield: 6.9% Built in 1992
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Features
  • Operating Incomе: 445,000 €
  • Land area: 5,472 m²
  • 4-floor building
  • Occupancy: 100%
  • Number of parking lots: 78
  • Most recent total renovation: 2016
  • End of lease: 2028
  • Notary (state registration): 2.0%
  • Acquisition tax: 6.5%
  • Broker: 4.8%

A multifunctional building.

Description

The commercial center consists of 11 offices and a supermarket on the ground floor if the building.

The area of a retail unit is 1,110 m².

The area of the office premises is 2,864 m².

The cost of the property includes a parking for 78 cars.

The building was built in 1992 and renovated in 2016.

All premises are rented.

Financial performance

Absolute annual income is 445,000 €.

The current yield of 6.9%.

Tenants

The anchor tenant is a large supermarket chain with more than 4 thousand branches in Germany and about 70 thousand employees. The company's turnover is more than 11 billion euros per year.

The lease agreement is valid through October 2028 and includes extension options for 6x3 years.

Transaction costs

Notary (state registration) is 1.5 – 2%.

Acquisition tax is 6.5%.

The brokerage fee is 4.76%.

Location and nearby objects

The commercial center is located in the southern part of Essen. One of the main shopping streets of the city and the public transport stops are situated in a several-minute walk from the building. A motorway exit is located nearby.

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Anatoliy Onufriev
Anatoliy Onufriev
Real Estate Expert Tranio in Essen
+44 20 3608 1267
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