Shopping center, Essen, Germany

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Shopping center, Essen, Germany

9,400,000 €
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Total area: 7,215 m² Yield: 7.6% Built in 2002
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Features
  • Operating Incomе: 713,011 €
  • Land area: 11,746 m²
  • 3-floor building
  • Occupancy: 100%
  • Number of parking lots: 235
  • Most recent total renovation: 2010
  • Notary (state registration): 1.5%
  • Acquisition tax: 6.5%
  • Broker: 4.0%

A shopping center with famous retail chains as tenants.

Description

A 3-storey building includes:

  • street retail (3,740 m²)
  • offices (3,130 m²)
  • technical rooms (345 m²)

Financial performance

The absolute annual income is 713,011 €.

The current yield of 7,6%.

Tenants

The property is fully leased.

The anchor tenants are:

  • a large supermarket chain with more than 3,000 stores in Germany. The annual turnover of the company exceeds 51 billion euros.
  • a chain of discount stores with more than 10,000 shops in the world. The annual turnover of the company exceeds 50 billion euros.
  • one of the world's largest chain of fast food restaurants

19 lease agreements with the possibility of indexing are concluded.

The WALT is 6 years.

A full list of tenants is available on request.

Transaction costs

Notary (state registration) is 1,5 – 2%.

Acquisition tax is 6,5%.

Brokerage fee is 4% + VAT 19% (total 7,76%).

Location

The property is located in a residential area in the center of Essen. The city is located in the Ruhr area (the Rhine-Ruhr region).

Essen has about 590,000 inhabitants and is the 4th largest city in the state of North Rhine-Westphalia and the 9th in the list of major German cities by population.

Essen is the city with a high-tech industry and excellent infrastructure. There are 6 universities and about 25 scientific research institutions here.

There is a suburban electric train station and a bus stop in close proximity of the shopping center. 

The distance to:

  • metro station — 1.6 km
  • university — 1.7 km
  • city center — 1.9 km
  • federal road — 1.0 km
  • central railway station — 2.5 km

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Artem Ezhkov
Artem Ezhkov
Real Estate Expert Tranio in Essen
+44 20 3608 1267
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