Entertainment Centre + Hotel in Austria for Sale, Yield = 5.2%
Property type: entertainment centre + hotel
Purchase of established rental business
Location: Austria
• property is located in one of the largest cities in Austria
Lettable area: ca. 20,000 m2, incl.:
• entertainment centre: ca. 14,300 m2
• hotel: ca. 5,700 m2
Plot size: ca. 6,000 m2
Car parking: 180+ spaces
Entertainment Centre:
• tenants: beauty salon, cinema network, fast food restaurant, café, parking management company
• occupancy: 93% (Vacant commercial space: ca. 1,400 m2)
Hotel:
• room capacity: 100+
• kitchen
• bar
• children’s corner
• pool table
Lease agreements: from mid-term to long-term
Possibility of renewal: YES
Rent Review: YES
Purchase price: 38,000,000 EUR
(+ closing costs)
Share Deal only:
• acquisition of the shares of the company that owns the property
• in case of Share Deal there is no obligation to pay property transfer tax
Current Rental Income: 1,982,400 EUR per annum
(+ indexation linked to inflation)
Current Yield: 5.2%
Value Add opportunities:
• There is a possibility to increase yield in case of renting out vacant commercial spaces;
• Potential yield (at 100% occupancy): 5.5%.
