Shopping mall, Saxony, Germany

Recently renovated shopping mall in the federated state of Saxony.

Description

A building with a total area of 1,100 m² was built in 1994 and renovated in 2023.

Equipment: ceiling air heaters with air recirculation function, fans in the retail space, central heating, loading ramp.

Retail space — 900 m².

There is a parking for 50 cars.

The property is fully let. The tenant is a chain beverage store with several hundred of branches all over Germany.

The lease agreement is concluded for 10 years with 2x5 years extension options.

The yield is 7%.

Notary (state registration) is 1.5 – 2%.

Acquisition tax is 6%.

Brokerage fee is 5% + VAT 19% (total 5.95%).

The property is located in the state of Saxony, in the industrial area, on a federal highway, in a town with a population of about 20,000 people.

• Dresden — 70 km
• Leipzig — 160 km

Saxony is a federal land in the FRG, located in the east of the country. The capital city is Dresden. The population of the region is more than 4 million people.

The most important branch of industry is automobile with a share of 27% of all sales. It is followed by the metallurgical sector with a share of 13%, machine construction with a share of 12%, as well as electrical engineering/ microelectronics with a share of 11.6% of Saxony's industrial turnover.

Saxony is known in the world for its higher education institutions with long traditions and high status: Leipzig University, Dresden Technical University, Freiberg Mining Academy.

Saxony attracts numerous tourists with the presence of many world-class culture monuments, delightful natural landscapes, and a well-developed tourist infrastructure.