Shop near the historic city center, Milan, Italy

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Shop near the historic city center, Milan, Italy

4,000,000 €
14,814 € /m²
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  • Total area
    270 m²
  • Yield
    5.0%
  • Rental rate (m²/month)
    62 €
Details
Property parameters
  • Leasable area: 270 m²
  • 1 floor
Financial performance
  • Annual income: 200,000 €
Tenants
  • Fully let
  • End of lease: 2030
Features
  • Street retail

Street retail on the ground floor of the building.

Description

The shop covers an area of 270 m² and has 4 windows display facing the street. There are 2 cellars in the shop.

Financial performance

The absolute annual income is 200,000 €.

The current yield is 5%.

Tenants

The lease agreement is valid for a period of 6 + 6 years since June 2018.

Location and nearby infrastructure

The property is located on the square, near the historic center of the city in Milan. There is a metro station, various museums and palaces, a park, hotels and restaurants located nearby.

Milan is the administrative center of Lombardy (the largest region of Italy) and the province of Milan. The population of Milan is more than 1,350,000 people (the 2nd largest city in Italy).

The city is considered the financial and economic capital of the country and one of the world's fashion capitals. There are many financial and trading companies in Milan (Pirelli, Telecom Italia, Alfa Romeo).

Fashion houses and light industry enterprises (Giorgio Armani, Gianni Versace, Dolce & Gabbana, Prada) are world famous. Milan's fashion week is held twice a year.

Milan is served by 3 airports and it is a major European hub of air traffic with a turnover of more than 30 million passengers a year.

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