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Navi Mumbai , Mumbai
9%
HIGH RENTAL YIELD
17.5%
HIGH RETURNS
Rs. 14,105
ATTRACTIVE PRICE
Bernhard Schulte & ClassNK
MNC Tenants
Name
Bernhard Schulte
Country
Germany
Description
The 4th floor unit is leased to Bernhard Schulte Shipmanagement (BSM), a 135 year old German integrated maritime solutions company managing 600 vessels, 15,000 employees through a network of 10 ship management, 26 crew services and 6 wholly-owned maritime training centres around the world.
Time Period
Lease Start Date
01 Oct 2018
Lock-in Period
3 YEARS
Lease End Date
01 Oct 2023
Tenant Highlights
9,509 SF
Total Area
₹93
Rent Per SF
5 YEARS
Lease Period
15%
Escalation
Name
Class NK
Country
Japan
Description
The 2nd floor unit is leased to ClassNK (also known as Nippon Kaiji Kyokai), a Japanese co. with more than 5,000 employees that provides shipping services including ship classification, vessel approval, certifications and other technical services.
Time Period
Lease Start Date
01 Mar 2019
Lock-in Period
3 YEARS
Lease End Date
01 Mar 2024
Tenant Highlights
7,649 SF
Total Area
₹99
Rent Per SF
5 YEARS
Lease Period
15%
Escalation
Name
Mankind Pharma
Country
India
Description
The 2nd floor unit is leased to Mankind Pharma, one of India's biggest pharma companies with $1 billion in revenues and 16,000 employees.
Time Period
Lease Start Date
31 Mar 2021
Lock-in Period
5 YEARS
Lease End Date
31 Mar 2026
Tenant Highlights
5,558 SF
Total Area
₹120
Rent Per SF
5 YEARS
Lease Period
5%
Escalation
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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 2nd floor and 4th floor of Wing F and Wing D respectively.
There is an opportunity to purchase a 22,716 square feet commercial office space (76% leased) 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. 35,44,00,000 (Rs. 14,105 per sf purchase price).
The listing is a combination of 3 units in Tower 2:
1. 7,649 sf leased to Japanese shipping company Class NK on a 5 year lease and 3 year lock-in
2. 9,509 sf leased to German shipping company Bernhard Schulte on a 5 year lease and 3 year lock-in
3. 5,558 sf leased to Mankind Pharma on a 5 year lease.
Seawoods Grand Central is a LEED Gold certified high-end mixed-use development with a 1 mn sf mall, 2 mn sf office and an upcoming hotel built on top of the centrally connected Seawoods Railway Station. The new Navi Mumbai airport which is under-construction is just 10 kms away from Seawoods Grand Central. The Airport is expected to be completed by 2022.
The integrated development has a 1 mn sf operational mall which has been purchased by global real estate PE fund Blackstone and houses marquee tenants like H&M, Lacoste among others.
Investment Note
A 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
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