Property Detail

Office Building in the province of Utrecht for Sale, Net Yield = 12.4%, Freehold

Office Building in the province of Utrecht for Sale, Net Yield = 12.4%, Freehold

Property type: office building
Purchase of established rental business

Tenure: freehold

Location: the province of Utrecht, Netherlands

• property is located in the province of Utrecht
• province of Utrecht is a densely populated (population is over 1.2 million people) and economically developed province in the Netherlands
• property benefits from its strategic location (an exit to the highway and close to large city)

Construction date: 1985

Total building size: over 4,100 m2, incl.:

• main tenant occupies ca. 1,500 m2 (35% of the whole leasable area)
• 4 other tenants occupy in total ca. 1,900 m2 (45% of the whole leasable area)
• vacant commercial space: ca. 800 m2 (20% of the whole leasable area)

Occupancy: 80%

Car parking: 105 spaces

Main tenant: IT company
Other tenants: consulting company, business services, construction company, security company

Main tenant has been leasing the building for over 10 years

Weighted average unexpired lease term (WAULT): 2.6 years

Possibility of renewal: YES
Rent Review: YES

Purchase price: 2,645,000 EUR
(+ closing costs)

Income: 338,500 EUR per annum
(+ index linked to inflation)

Gross yield: 12.8%

Maintenance costs (paid by the owner): ca. 10,000 EUR per annum

Net yield: 12.4%

Extra opportunity:


A surplus of 175,000 EUR will be due in the event Seller will close a lease agreement for the current vacancy under the following terms:
- Lease term of 5 years
- Gross rent 76,000 EUR per annum in total (in addition to the annual rental income 338,500 EUR)

In this event the financial highlights will be these:

Purchase price: 2,820,000 EUR

(+ closing costs)

Income: 414,500 EUR per annum
(+ index linked to inflation)

Gross yield: 14.7%

Maintenance costs (paid by the owner): ca. 10,000 EUR per annum

Net yield: 14.3%

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http://www.brantstone.com/property/high-yield-property-in-netherlands-11032941 11032941 Office Building in the province of Utrecht for Sale, Net Yield = 12.4%, Freehold