Description
The supermarket with an area of about 7,800 m².
In 2023–2024 the tenant will renovate the unit at his own expense. The following works will be carried out:
- retail space modernization;
- warehouse extension;
- new transformer installation;
- facade renovation;
- asphalt coating renewal in the territory.
The annual income is 689,390 €.
The yield is 5.6%.
The property is fully let. The tenant is a well-known German supermarket chain with more than 4,000 grocery stores in Germany.
The tenancy contract has been concluded till 2038 with 3x5 years extension options.
Notary (state registration) is 1.5–2%.
Acquisition tax is 5%.
Brokerage fee is 4% + VAT 19% (total 4.76%).
The property is located in Hannover.
With a population of more than 500 thousand people, Hanover is on the 13th place in the country.
Hanover is one of the leading exhibition cities in the world. It hosts more than 60 international and national exhibitions every year. Hannover International Airport (9th largest in Germany) annually welcomes more than 5 million passengers.
Lower Saxony is situated in northwestern Germany. It is the second largest state and fourth largest in population (7.9 million).
