Commercial center, Hamburg, Germany

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Commercial center, Hamburg, Germany

7,150,000 €
2,094 € /m²
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  • Total area
    3,414 m²
  • Yield
    5.1%
  • Rental rate (m²/month)
    11 €
  • Built in 
    1989
Details
Property parameters
  • Leasable area: 2,800 m²
  • Land area: 1,444 m²
  • Total premises: 8
  • Number of parking lots: 32
  • 4-floor building
Financial performance
  • Annual income: 356,627 €
Tenants
  • Fully let
  • End of lease: 2024
Transaction costs
  • Notary (state registration): 2.0%
  • Acquisition tax: 4.5%
  • Broker: 5.0% + VAT
Features
  • Street retail

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.

Financial performance

Absolute annual income is 356,627,28 €.

The current yield of 5.1%.

Tenants

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.

Transaction costs

Notary (state registration) is 1.5 – 2%.

Acquisition tax is 4.5%.

The brokerage fee is 5.95%.

Location and nearby infrastructure

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.

More properties

If this ad doesn't suit you, have a look at the other shopping centers for sale in Hamburg.

All ads in the country: shopping centers for sale in Germany.

Tranio helps to manage property after purchase

Our local team at Tranio in Germany will take up property management or recommend professional German partners.

The terms and conditions of our engagement depend on the condition and location of the property and are to be discussed in each particular case.

Find out more
  • icon Property maintenance and insurance
  • icon Search for tenants, contracting, and control over rent collection
  • icon Arrangements for bookkeeping and tax advice
Сonstruction loan as an alternative to commercial property investment

Developers with a good track record that give warranties or procure a record in the land register.

There is no need to incorporate a legal entity or open an account in Germany.

No extra charges to maintain or operate the property.

Comparing a mixed-use building purchase with a construction loan

Investment vehicle
Mixed-use building
Construction loan
Yield per annum
5.1%
8—10%
Investment budget
7,150,000 €
from 300,000 €
Buying expenses
10—15%?
  • 1 – 1,5 % — lawyer
  • 2,3 – 3,2 % — notary and state registration
  • 3,5 % – 6,5 % — acquisition tax
  • 3-6% + VAT — broker's fee

Percentage of the property value

0—2%?

The expenses on an independent legal review of the project

Investment term
from 5 years
to 3 years
Risk level
Low
Moderate
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