Shopping center, Thuringia, Germany

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Shopping center, Thuringia, Germany

10,250,000 €
568 € /m²
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  • Total area
    18,027 m²
  • Yield
    7.1 %
  • Built in 
    1994
Details
Property parameters
  • Land area: 24,485 m²
  • Number of parking lots: 324
Financial performance
  • Annual income: 729,757 €
Tenants
  • Occupancy: 70 %
Property status
  • Most recent total renovation: 2009
Transaction costs
  • Notary (state registration): 1.5 %
  • Acquisition tax: 6.5 %
  • Broker: 4.0 %

A shopping center with a parking.

Description

The sales area is 15,500 m².

Equipment:

  • elevator
  • central heating
  • parking (324 lots)

The shop was built in 1994 and fully renovated in 2009.

Financial performance

The absolute annual income is 729,757 €.

The current yield is 7.1%.

Tenants

The anchor tenants are:

  • One of the largest sellers of furniture and household goods in Germany. Thr lease agreement is valid until 2024.
  • A European clothing retail chain with more than 180 stores. The lease agreement is valid until 2025.
  • A large retail network of toy stores with more than 60 branches. The lease agreement is valid until 31 December 2019.

Transaction costs

Notary (state registration) is 1.5 – 2%.

Acquisition tax is 6.5%.

Brokerage fee is 4% + VAT 19% (total 4.76%).

Location

The shopping center is located in Gera, in the eastern part of Thuringia.

Gera is the 3rd largest city in Germany after Erfurt and Jena. It covers an area of about 150 km². Its population reaches 95 thousand.

The town is considered as a regional trade center. There are a machine building enterprise and a medical university.

The property is located 4 km away from the motorway and within walking distance from the residential area.

There are public transport stops, a large supermarket, a bakery, a car wash, a gas station and a garage nearby.

The distance to the nearest city Zwickau is about 40 km, to Erfurt (the administrative center of Thuringia) — 80 km.

Thuringia is one of German states in the east of the country with the most developed economy together with Saxony. It covers an area of about 16,170 km². Its population reaches 2,15 million.

In 2018 about 66% of the regional population worked in the service sector.

The average income hit 41,000 € per year.

In 2018 nominal GRP (gross regional product) of the state was about 64 billion €.

  • Property on the map
    Location right down to the building, street or city

More properties

If this property wasn’t for you, take a look at other mixed-use buildings for sale in Germany.

You can see more mixed-use buildings for sale in Thuringen elsewhere on our website.

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