You can now place both Bids and Offers with Property Share.
Bandra Kurla Complex , Mumbai
7.69%
HIGH RENTAL YIELD
16.7%
HIGH RETURNS
₹ 34,646
ATTRACTIVE PRICE
Grade A+
QUALITY
Name
State Bank of Mauritius
Country
Mauritius
Description
State Bank of Mauritius is a commercial bank by the Bank of Mauritius, the national banking regulator. It is the second-largest bank in Mauritius with a market share of about 25% of domestic banking assets.
Time Period
Lease Start Date
15 Jan 2019
Lock-in Period
3 YEARS
Lease End Date
15 Jan 2024
Tenant Highlights
7,721 SF
Total Area
₹222
Rent Per SF
5 YEARS
Lease Period
5%
Escalation
|
|
Bandra Kurla Complex is Mumbai’s financial centre and the preferred location for all blue chip financial and investment firms. It houses headquarters of the National Stock Exchange, SEBI, large public and private sector banks, international consulates, five star hotels, international schools and convention centres.
Property Share’s unit is located on the 3rd floor and leased to State Bank of Mauritius. It is well laid out floor divisible into 4 separate office with lifts in the middle and bathrooms in the four corners.
There is an opportunity to purchase a 7,721 sf commercial office space in The Capital within the Bandra Kurla Complex, Mumbai for an all-in cost of Rs. 29,50,00,000 (Rs. 34,646 per sf) which implies a 7.7% yield for pre-book investors.
The Capital is a platinum grade building in the heart of Bandra Kurla Complex and houses the India HQs of Deutsche Bank along with tenants like Pfizer, Symantec, MunichRe, VISA among others.
The unit has just been leased to State Bank of Mauritius for a 9 year lease with a 3 year lock-in. The SBM lease is at a 13.4% discount to recent leases in the building implying significant leasing upside in the transaction.
We believe the pricing, location, tenant, rental yield and quality of the development will lead to significant upside over the next 4-5 years.
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
7.7%
Monthly Rent
₹ 13,946
Ownership
0.8%
Comments (if any)