You can now place both Bids and Offers with Property Share.
Navi Mumbai , Mumbai
9.02%
HIGH RENTAL YIELD
16.8%
HIGH RETURNS
Rs. 13,302
ATTRACTIVE PRICE
Grade A+
QUALITY
Name
Koch Chemicals
Country
United States
Description
Property share's unit is partly leased to Koch Chemicals (6,163 sf) and the unleased unit (8,157 sf) is being marketed by CBRE and JLL and is currently in discussions with 3 tenants. Koch Industries is an American multinational corporation based in Wichita, Kansas. Its subsidiaries are involved in the manufacturing, refining, and distribution of petroleum, chemicals amonth others. The firm employs 120,000 people in 60 countries, with about half of its business in the United States. With annual revenues of $110 billion, the company is the second largest privately held company in the United States.
Time Period
Lease Start Date
01 Aug 2019
Lock-in Period
2 YEARS
Lease End Date
31 Jul 2024
Tenant Highlights
14,320 SF
Total Area
₹104
Rent Per SF
9 YEARS
Lease Period
15%
Escalation
|
|
Seawoods Grand Central is located above the Seawoods railway station in Navi Mumbai.
Seawoods station connects commuters to Panvel in the south, Thane in the north and Dadar/CST in central and south Mumbai making the property one of the best located developments in the city. The new Navi Mumbai airport was inaugurated by PM Narendra Modi in February '18 and is expected to start operations for the first phase by early 2020 which should lead to significant upside in the property.
A Transharbour link connecting Navi Mumbai to central Mumbai is also being constructed by L&T along with metro connectivity making this property very attractive from an investment standpoint.
PropertyShare’s unit is located on the 9th floor of Wing D and has a leasable area of 14,320 sf and enjoys views of the Arabian sea with light on 3 sides.
This is the most premium unit in the building which has been exclusively sold to Property Share.
There is an opportunity to purchase a 14,320 square feet commercial office space in L&T Seawoods Grand Central - India’s first and largest Transit Oriented Development - located in Navi Mumbai, for an all-in cost of Rs. 23,21,00,000 (Rs. 13,302 per sf purchase price).
Developed by L&T, the retail mall and one office tower has been bought by global PE fund Blackstone. Property Share is purchasing a premium sea facing office block on the 9th floor (total 11 floors) that is currently vacant but is being marketed to 3 potential tenants. Property Share has leveraged its relationship with Blackstone and L&T to get a phenomenal purchase price of Rs. 13,302 psf which is a 11.4% discount to what L&T sells lower floors for in the property.
The property has tenants like TEVA Pharma, JK Ansell, SBI Life insurance and sets up to a 8.02% yield which we are topping-up to 9.02% for the first year for pre book investors. We have also negotiated a 6 months rent guarantee irrespective of leasing providing a 6 month cushion for investors.
Seawoods station connects commuters to Panvel in the south, Thane in the north and Dadar/CST in central and south Mumbai making the property one of the best located developments in the city. The new Navi Mumbai airport was inaugurated by PM Narendra Modi in February and is expected to start operations for the first phase by 2023 which should lead to significant upside in the property. A Transharbour link connecting Navi Mumbai to central Mumbai is also being constructed by L&T along with metro connectivity making this property very attractive from an investment standpoint.
Investment Note
Detailed investment note on the property by our Investment Team
Legal Title Report
A detailed report on the title by our lawyers Cyril Amarchand Mangaldas
Comments (if any)