Value-Add High Street Retail in Krefeld, near Dusseldorf for Sale, Lease Agreement Ends 2027
Property type: shopping centre & high street retail
Purchase of established rental business
Location: Krefeld, the state of North Rhine-Westphalia, Germany
• the property is situated in Krefeld (a city with population over 200,000), near Dusseldorf
• the property enjoys prime high street location in the city center
Construction date: 1960’s
Latest renovation: 2017
Building size: over 12,400 m2
Area size: over 1,900 m2
Anchor tenant: chain of clothing stores
Lease Agreement ends: 2027 (+ 5-year renewal options)
Other tenants: clothing stores, shoe stores, home improvement store, entertainment centre, etc.
Lease Agreements end: 2018 - 2023 (+ 5-year renewal options)
Vacant commercial space: over 3,900 m2
Purchase price: 22,800,000 euro
+ closing costs
Income: 1,094,400 euro per annum
(+ indexation linked to inflation)
Current yield: 4.8%
Value Add opportunities:
There is a possibility to increase yield in case of renting out vacant commercial spaces.
Potential yield (in case of renting out vacant commercial spaces): 6.8%.