A mixed-use building in Lower Saxony.
Description
A mixed-use center with underground and surface parking.
In 2017 the property was upgraded to a total amount of 3.5 million euros.
The property includes:
- home appliances and electronics store (on 2 floors, 4,400 m²)
- sporting goods store (1,450 m²)
- fitness club (1,700 m²)
- sporting goods store (separate entrance, 1,000 m²)
- underground parking (143 places)
- surface parking (59 places)
Bank financing is possible.
The absolute annual income is 721,373 €.
The current yield is 6,6%.
The property is fully leased.
The anchor tenants are 4 companies:
- One of the largest German chain of electronics and home appliances stores. The company's turnover exceeds 20 billion euros, the number of employees is more than 60 thousand people.
- European retail chain with more than 5,000 stores in more than 30 countries of the world. The company's turnover exceeds 10 billion euros.
- A fitness club
- Retail store
All tenants are companies with a good reputation and long-term lease agreements.
The WALT is 4.5 years.
The lease agreements provide for the indexation of rent.
Notary (state registration) is 1,5 – 2%.
Acquisition tax is 5,0%.
Brokerage fee is 4% + VAT 19% (total 4,76%).
The property is located in the city with the population about 110,000 people (Lower Saxony).
The shopping center is located in 1.5 km from the city center, in one of the busiest streets, near the stops of public transport.
The city is the cultural and historical center of the state of Lower Saxony, as well as one of the industrial, commercial and economic centers of Germany.
Employers based in the city:
- Bosch (automotive and manufacturing equipment)
- Blaupunkt (a subsidiary of Robert Bosch Corporation GmbH) The Coca-Cola Company
- Thyssen (the company producing window systems)
- Krupp (concern for the production of sheet stainless steel)
The city has one of the oldest universities in Lower Saxony.
The sights of the city include a theater, an operetta, a music hall, a ballet theater, and numerous museums.
Some of the city’s attractions are on the UNESCO World Heritage List.
The city is also known for its annual large Christmas markets on the main, historical street of the city.
The city is located 25 kilometers away from Hanover.
