It is a brand new shopping center in a small town in northern Bavaria.
Description
The shopping mall has been finished in 2016.
The total area of 2,956 m².
The land area is 8,164 m².
The property is fully leased out to several tenants.
Financial performance
Absolute income is 307,968 €.
The current yield of 7%.
Tenants
The anchor tenant is grocery chain Norma, founded over 50 years ago.
Norma operates more than 1,300 stores, its annual revenue is about € 6 billion.
The lease agreement is signed for 12 years until 2028 with extension options for 6x3 years.
Other tenants: bakery, laundry, post office, drugstore.
The lease agreements are signed for 10 years each.
Transaction costs
Notary fee of 1,5%.
RE purchase tax of 3,5%.
The broker's fee of 3%.
