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Brigade Tech Park II Whitefield cover image
Brigade Tech Park II
Whitefield, Bangalore
Brigade Tech Park II Whitefield big hero
something

3+

Brigade Tech Park II

Whitefield , Bangalore

Fully Funded

* Min. Investment 25 lakhs

Monthy Rent

₹17,627

Ownership

0.9%

Bid/ ask

You can now place both Bids and Offers with PropShare capital.

Bids

A Bid is the price at which a given number of shares are available to buy.

Ask

An Offer is the price at which owned shares are available for sale.

Investment Highlights

8.71%

HIGH RENTAL YIELD

20.14%

HIGH RETURNS

Metro Ext.

CONNECTIVITY

Grade A

QUALITY

Investment Returns

Investment Amount

Tenant Details

Name

Vacant

Country

India

Description

Property Share's unit is being marketed by CBRE and JLL and is currently in discussions with various tenants.

Time Period

Lease Start Date

01 Jul 2019

Lock-in Period

2 YEARS

Lease End Date

30 Jun 2028

Tenant Highlights

50,500 SF

Total Area

₹40

Rent Per SF

9 YEARS

Lease Period

15%

Escalation

Property Pricing

₹ 23,98,75,000

₹ 2,03,61,600

₹ 36,36,000

₹ 47,97,500

₹ 23,98,750

₹ 20,00,000

₹ 13,11,150

₹ 1,21,20,000

Location Highlights

Brigade Tech Park is located next to ITPL, Bangalore’s oldest tech park with tenants including TCS, Xerox, IBM, GE, Atos, Oracle, Perot.

Whitefield is the 2nd largest office market in Bangalore with approx. 30 million sf of office stock (25% of total Bangalore market) with offices of TESCO, GE, TCS, Accenture, SocGen among others.

The purple line of the Metro is being extended by 13 stations to Whitefield (est. completion 2020) with one station directly opposite the Brigade Tech park gate.

Floor Plan

PropertyShare’s unit is located on the 2nd floor of Tower B and is divided into 3 units totaling 50,500 sf which can be leased to 3 different tenants if required.

Brigade Tech Park II Whitefield floor plan

Investment Overview

There is an opportunity to purchase a 50,500 square feet Grade A office in Brigade Tech Park, Whitefield, Bangalore for an all-in cost of Rs. 28.65 crores which sets-up to a remarkable 9.21% yield (incl. 0.5% top-up for pre-book investors) and 20.3% IRR - both highest on the Property Share platform. This is in-part due to our negotiated purchase price of Rs. 4,750 per sf which is at a 31% discount to prevailing market rates.

Background
The floor is currently owned by over 45 different investors spread across the world which has led to multiple challenges including delays in decision making on tenancy and maintenance of the property. The floor has been vacant for 2 years since the last tenant Tata Elxsi vacated the unit. This is a unique opportunity put together by the Property Share investment team which has worked tirelessly with the owners in the unit over the past few weeks to set-up an opportunistic and lucrative investment opportunity. The purchase price is 18% lower than the 3rd floor unit that Property Share purchased in the same property in Nov '17 (currently leased to Standard Chartered).

Bangalore Metro
The purple line of the Bangalore Metro is being extended by 13 stations from Indiranagar to Whitefield with one station directly outside the Brigade Tech park gate. Once operational (estimated 2020) Whitefield will get connected to the entire city making it easy for employers to hire talent from anywhere across the city and leading to significant uptick in rents and capital values.

Rent Guarantee
Property Share has negotiated a rent guarantee of 6 months for investors so that there is no loss of rent during vacancy. Initial conversations with JLL, CBRE and other brokers have indicated strong demand for space in the area from tenants. Brigade (which owns Tower 1) has leased a 10,000 sf unit to IDEA Cellular in Jan'18 at Rs. 40 per sf.

We believe this is a fantastic opportunity to own a high quality asset that once leased will lead to significant upside in value over the next few years. No wonder that some of the Sellers have decided to invest back in the property through Property Share.

Webinar Update

Key Updates

05-Oct-2018

MOU signed

08-Oct-2018

Listing opened

Reports

Investment Note

A detailed investment note on the property by our Investment Team

Legal Title Report

A detailed report on the title by our lawyers Cyril Amarchand Mangaldas