Property Detail

Office Building in the East of Milan for Sale, Remaining Lease Term = 5 Years, Freehold

Office Building in the East of Milan for Sale, Remaining Lease Term = 5 Years, Freehold

Property type: office building
Purchase of established rental business

Tenure: freehold

Location: East of Milan, Italy


Total area: ca. 13,300 m2

Car parking facilities: underground and surface parking lots

Technical condition:
• building is in good condition
• additional investments in renovation or refurbishment are not required

Main tenant: well-known consulting company
• single-tenant
• occupancy: 100%

Remaining lease term: 5 years (+ renewal option 1x6 years) with no breaks
Possibility of renewal: YES
Rent Review: YES

Purchase price: 11,000,000 euro
(+ closing costs)

Gross rent: 800,000 euro

Net Income: 650,000 euro per annum

(+ indexation linked to inflation)

Net Yield: 5.9%

Extra opportunities:

• New metro line will stop ca. 300 m away from the asset;
• Rent is currently at ca. 140 euro / m2 p.a., but it will be possible to negotiate at 175 euro / m2 p.a. once current lease expires thanks to the new metro line.

Property Contact

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http://www.brantstone.com/property/commercial-property-for-sale-in-milan-italy-14033013 14033013 Office Building in the East of Milan for Sale, Remaining Lease Term = 5 Years, Freehold