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Embassy Tech Square Sarjapur ORR cover image
Embassy Tech Square
Sarjapur ORR, Bangalore
Embassy Tech Square Sarjapur ORR big hero
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Embassy Tech Square

Sarjapur ORR , Bangalore

Fully Funded

* Min. Investment 25 lakhs

Monthy Rent

₹14,556

Ownership

0.6%

Bid/ ask

You can now place both Bids and Offers with Property Share.

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

₹ 9655

ATTRACTIVE PRICE

7.6%

HIGH RENTAL YIELD

15%

ESCALATION

42% DEBT

LEVERAGED

Investment Returns

Investment Amount

Tenant Details

Name

Syniverse Technologies Inc

Country

Florida, US

Description

Syniverse technologies is a US based telecom technology and research firm owned by private equity giant The Carlyle group. It employs around 23,000+ employees. It had a market capitalisation of approximately $2.6 billion as of 1st Oct 2017.

Time Period

Lease Start Date

31 Dec 2013

Lock-in Period

3 YEARS

Lease End Date

30 Dec 2028

Tenant Highlights

40,392 SF

Total Area

₹53

Rent Per SF

15 YEARS

Lease Period

15%

Escalation

Property Pricing

₹ 35,75,90,375

₹ 1,82,37,109

₹ 35,75,904

₹ 71,51,808

₹ 6,00,000

₹ 17,87,952

₹ 10,56,852

Location Highlights

Sarjapur ORR is the largest office market in Bangalore with less than 2% vacancy (40 million sf, 35% of total Bangalore market) with offices of JP Morgan, CISCO, Accenture, Cognizant, Wipro, Oracle, Intel, Honeywell, SAP, HSBC, KPMG, ADOBE, Sony, Goldman Sachs, Flipkart among others.

Floor Plan

Well laid out floor divisible into 4 separate office with lifts in the middle and bathrooms in the four corners.

Embassy Tech Square Sarjapur ORR floor plan

Investment Overview

There is an opportunity to purchase a 40,392 square feet commercial office space in Embassy Tech Square within the Cessna Business Park on Sarjapur Outer Ring Road, Bangalore for an all-in cost of Rs. 39,00,00,000 (Rs. 9,655 per sf) which implies a 7.6% yield.

Located within the Cessna Business Park which houses the HQs of CISCO and offices of LG, InMobi, Flipkart and Akamai, Embassy Tech Square is a 1.2 million sf Grade A office development by the Embassy Group comprising four towers, of which Property Share is planning to acquire a floor in the Delta tower. Sarjapur ORR is the largest office market in Bangalore with less than 2% vacancy (40 million sf, 35% of total Bangalore market) with offices of JP Morgan, CISCO, Accenture, Cognizant, Wipro, Oracle, Intel, Honeywell, SAP, HSBC, KPMG, ADOBE, Sony, Goldman Sachs, Flipkart among others.

Property Share’s unit is leased to US based Syniverse, a $2.6 billion telecom technology company headquartered out of Florida and owned by private equity major, The Carlye Group. Syniverse is paying a rent of Rs. 52.9 psf which is 25% below market rent (Rs. 70 psf) due to which the Seller is selling the floor at Rs. 8,853 psf which is 20% below market rate (Rs. 11,000 psf).

This is a leveraged opportunity. There is in-place debt from HDFC for 42% of the purchase price which magnifies returns and reduces tax leakage due to interest offset.

Webinar

Key Updates

05-Oct-2017

Hand shake on the price

Reports

Investment Note

A detailed investment note on the property by our Investment Team

Legal Due Diligence Report

A detailed report on the title by our lawyers