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Private listing

Shopping centre in residential area

Tallinn, Estonia





28 Sep 2022


Property Details

3,170 m²

Leasable area

1,637.22 €/m²

8.20 %



For sale

Authorized representative



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Investment Overview

Retail centre that was originally built into a mono-use retail premises and reconstructed into a universal neighborhood shopping centre in 2000. Today the centre accommodates over 20 tenants in two stories and its anchor tenant is the grocery retailer.. The centre has enjoyed high historical occupancy and continuous rental revenue growth over the years. The tenant base has remained very stable - most of the current tenants have been in the building for over 7 years. The Property serves one of the most densely populated residential areas in Õismäe with several blocks of flats and tower blocks in the vicinity. The rental income increases continuously as most of the lease agreements have indexation at 5%. Most costs are covered by tenants including common area utilities, insurance and property management.