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Hidden Listing

Retail Park (forward purchase)

Nigrán, Spain

91%

€40.000.000

Retail

Core

29 Aug 2022

#14139

Property Details

27,387 m²

Leasable area

1,460 €/m²

6.25 %

24

Freehold

For sale

Authorized representative

X

Fees

0.00 %

1.00 %

0.60 %

0.00 %

0.40 %

Investment Overview

Opportunity to forward purchase a newly built retail complex in the north west of Spain. Property consists of a commercial ground floor: 23,180 m2 and a leisure and restaurant top floor: 4,207 m2. Building license was issued in October 2021 and planned completion is end of 2022. Plot area 60,000 m2 and gross leasable area of 27,387 m2. 900 indoor parking spaces and 133 outside parkings. Maximum building height is 12m and 3 floors. The property is 97% pre-let and 3% are under negotiations. Year 1 gross rent of Eur 2.808.226 and net rent of Eur 2.561.633. Estimated common expenses budget: €361,508/year (€1.10/m2/month)- Final adjustment once completed.