DIY store and fitness center, North Rhine-Westphalia, Germany

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DIY store and fitness center, North Rhine-Westphalia, Germany

3,350,000 €
837 € /m²
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  • Total area
    4,000 m²
  • Yield
    6.5%
  • Built in 
    1983
Details
Property parameters
  • Land area: 4,500 m²
  • 2-floor building
Financial performance
  • Annual income: 217,000 €
Tenants
  • Fully let
  • End of lease: 2035
Property status
  • Most recent total renovation: 2019
Transaction costs
  • Notary (state registration): 1.5%
  • Acquisition tax: 6.5%
  • Broker: 6.0% + VAT

DIY store and fitness center with chain tenants in the state of North Rhine-Westphalia.

Description

The two-storey building with an area of 4,000 m²:

  • DIY store — 2,000 m²
  • fitness center — 2,000 m².

Plot area — 4,500 m².

The building was constructed in 1983. The upper floor was completed in 2019 — fully renovated and converted into a fitness center.

Financial performance

The annual income is 217,000 €.

The yield is 6.5%.

Tenants

The property is fully let.

  • The first tenant is a well-known DIY retail chain with more than 300 stores. The lease agreement is valid until 2028.
  • The second tenant is a gym chain which is the largest one in North Rhine-Westphalia. The lease agreement is valid until 2035.

Transaction costs

Notary (state registration) is 1.5–2%.

Acquisition tax is 6.5%.

Brokerage fee is 6% + VAT 19% (total 7.14%).

Location and nearby infrastructure

The property is located in the federal state of North Rhine-Westphalia, in a city with a population of over 25,000 inhabitants. Dortmund is less than 100 km away.

North Rhine-Westphalia is the land of the Federal Republic of Germany with a population of 17.5 million people (the most populated of the German lands). It ranks 4th in Germany in terms of area.

22% of Germany’s GDP comes from NRW. The main industry in NRW is engineering and equipment manufacturing, biotechnology, chemical industry, and etc.

North Rhine-Westphalia is the center of trade in Germany, because it houses the headquarters of several leading German trading concerns with the largest turnover, for example, Deutsche Telekom AG, ALDI NORD, Die Deutsche Post, Bayer, Lufthansa Group, REWE. DE.

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    Marina Filichkina
    Marina Filichkina,
    Head of Sales
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