Property Detail

Office Building in the Province of Groningen for Sale, Net Yield = 10.8%, Freehold

Office Building in the Province of Groningen for Sale, Net Yield = 10.8%, Freehold

Property type: office building
Purchase of established rental business

Tenure: freehold


Construction year: 1990’s

Lettable area: ca. 5,800 m2

Car parking facilities: 90+ spaces

Location: the province of Groningen, the Netherlands

• property is located in a city with a population over 35,000
• city centre location

Tenant: state organization

Occupancy: 77%
Vacant commercial space: ca. 1,300 m2

Remaining Lease Term: 6 years (+ 5-year renewal option)
Possibility of renewal: YES
Rent Review: YES

Purchase price: 4,950,000 EUR
(+ closing costs)

Gross Rental Income: 557,000 EUR per annum
(+ index linked to inflation)

Gross yield: 11.3%

Maintenance costs (paid by the owner): ca. 20,900 EUR per annum

Net yield: 10.8%

Extra opportunities:
• There is a possibility to increase yield in case of renting out vacant commercial spaces;
• Potential Net Yield (at 100% occupancy): 13.4%.

Property Contact

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http://www.brantstone.com/property/high-yield-commercial-property-in-netherlands-11033396 11033396 Office Building in the Province of Groningen for Sale, Net Yield = 10.8%, Freehold