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Bandra Kurla Complex (BKC) , Mumbai
8.7%
HIGH RENTAL YIELD
17%
HIGH RETURNS
₹ 35,266
ATTRACTIVE PRICE
Grade A+
QUALITY
Name
Qualcomm
Country
San Diego, USA
Description
Qualcomm is an American multi-national semiconductor and telecommunications equipment company which has a market cap of about $63.5 B and is ranked 133rd on the Fortune 500 List.
Time Period
Lease Start Date
08 Feb 2019
Lock-in Period
3 YEARS
Lease End Date
08 Feb 2024
Tenant Highlights
5,501 SF
Total Area
₹237
Rent Per SF
5 YEARS
Lease Period
15%
Escalation
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The Capital is Located in Bandra Kurla Complex which 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 6th floor and leased to Qualcomm. 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 5,501 sf commercial office space in The Capital within the Bandra Kurla Complex, Mumbai for an all-in cost of Rs. 21,30,00,000 (Rs. 35,266 per sf) which implies a 8.7% 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 Qualcomm India for a 5 year lease with a 3 year lock-in. The Qualcomm lease is at a 7% 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
8.7%
Monthly Rent
₹ 15,948
Ownership
1.2%
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