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Outer Ring Road , Bangalore
9.14%
HIGH RENTAL YIELD
18%
HIGH RETURNS
Rs 12,338
ATTRACTIVE PRICE
ORR
LOCATION
Name
Aurbis Business Parks
Country
Singapore
Description
Singapore-based Aurbis is a managed offices provider backed by Avila Capital which was founded by the Chairman of Assetz Property Group Singapore.
Time Period
Lease Start Date
01 Oct 2019
Lock-in Period
5 YEARS
Lease End Date
30 Sep 2029
Tenant Highlights
52,277 SF
Total Area
₹89
Rent Per SF
10 YEARS
Lease Period
4.5%
Escalation
Name
tech mahindra
Country
IN
Description
Time Period
Lease Start Date
09 Aug 2024
Lock-in Period
0 YEARS
Lease End Date
31 Dec 2024
Tenant Highlights
3,000 SF
Total Area
₹100
Rent Per SF
0 YEARS
Lease Period
10%
Escalation
Name
tech mahindra 2
Country
IN
Description
Time Period
Lease Start Date
09 Aug 2024
Lock-in Period
0 YEARS
Lease End Date
31 Dec 2024
Tenant Highlights
4,000 SF
Total Area
₹75
Rent Per SF
0 YEARS
Lease Period
10%
Escalation
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Outer Ring Road is the largest office market in Bangalore with headquarters of tenants like Microsoft, Goldman Sachs, JP Morgan, Northern Trust, Cisco, Oracle, Wells Fargo and LinkedIn among others.
Proposed units are spread across Ground, 5th and 6th floors.
There is an opportunity to purchase 52,277 sf in The Pavilion on Outer Ring Road, Bangalore tenanted to Singapore-based Aurbis Business Parks for an all-in cost of Rs. 69,90,00,000 (Rs. 12,338 per sf) implying a 9.14% yield and 18% IRR for Pre-book investors.
The Pavilion is a newly-built 210,000 sf Grade A office asset on Outer Ring Road, Bangalore fully leased to Aurbis Business Parks with a 5-year lock-in. Aurbis has in-turn leased to blue-chip tenants including Tata Technologies, eBay, Livspace, PhonePe, Aptus Labs and iQuanti. The Pavilion is located on Outer Ring Road, the largest and fastest growing office market in Bangalore. Outer Ring Road is a well developed commercial hub for multi-national companies and is in close proximity to dense residential hubs of Koramangala, Indiranagar, Sarjapur, and HSR Layout.
In Feb'20, PropShare listed 53,577 sf in the project (25% of total area). With this listing, PropShare will manage > 50% of the total area including entire ground, 4th and 5th floors exclusively, giving it strategic advantage. Since closing the transaction in Feb'20, Aurbis has paid 100% rent for all months.
The entire building has been leased to Singapore-based managed offices player Aurbis Business Parks backed by Avila Capital.
We believe this is a unique opportunity to acquire a leased Grade A asset in Bangalore’s largest and fastest growing micro-market.
Investment Note
Property Share's Detailed Investment Note
Legal Title Report
Detailed Report on the Title diligence of the property by Amarchand Mangaldas
How much do you want to invest?
Rental Yield
9.1%
Monthly Rent
₹ 16,960
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