Mixed-use building, Lower Saxony, Germany

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Mixed-use building, Lower Saxony, Germany

10,900,000 €
1,249 € /m²
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  • Total area
    8,724 m²
  • Yield
    6.6%
  • Built in 
    1989
Details
Property parameters
  • Land area: 10,683 m²
  • Number of parking lots: 202
Financial performance
  • Annual income: 721,373 €
Tenants
  • Fully let
Property status
  • Most recent total renovation: 2017
Transaction costs
  • Notary (state registration): 1.5%
  • Acquisition tax: 5.0%
  • Broker: 4.0% + VAT

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.

Financial performance

The absolute annual income is 721,373 €.

The current yield is 6,6%.

Tenants

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.

Transaction costs

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

Acquisition tax is 5,0%.

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

Location and nearby infrastructure

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.

More properties

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

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
6.6%
8—10%
Investment budget
10,900,000 €
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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