• Miraya Rose
  • Miraya Rose
  • Miraya Rose
  • Miraya Rose
  • Miraya Rose
  • Miraya Rose
  • Miraya Rose
  • Miraya Rose
  • Miraya Rose
  • Miraya Rose
  • Miraya Rose
  • Miraya Rose
  • Miraya Rose
  • Miraya Rose
PER SQUARE FEET
  • Tenanted Tenanted
  • Metro Metro
  • Retail Asset Retail Asset
22,588 SF
Whitefield, bangalore
  • MIN INVESTMENT
  • NO OF INVESTORS
  • RENTAL YIELD
  • RETURN TARGET
  • 100%
Of ₹ 27,37,00,000 Property Value
  • High Street Miraya Rose, Whitefield is a Grade A luxury retail-cum-residential project developed by UKn Group with marquee retail and F&B tenants like Starbucks, Toni & Guy, Truefitt & Hill, Toscano, Ebony, Daily Sushi, Cold Stone, Cafe Noir, Godrej Nature’s Basket, The Organic World, Tata Croma and Urban Ladder.

    It is located on the Whitefield Main Road with close proximity to large IT Parks like ITPL, five-star hotels, Bangalore’s largest mall, large residential complexes, hospitals and highly rated international schools.

    • HIGH RENTAL YIELD on All-in Price
    • HIGH RETURNS IRR
    • ATTRACTIVE PRICE Per square foot
    • GRADE A TENANTS Leading retail and F&B tenants
  • There is an opportunity to purchase a 22,588 square feet retail space in High Street Miraya Rose, a Grade A project, located in Whitefield, for an all-in cost of Rs. 27,37,00,000 (Rs. 11,059 per sf purchase price).

    The listing is a combination of 4 units on the Ground Floor:

    1. 11,625 sf leased to electronics retailer Tata Croma on a 15 year lease and 27 months lock-in

    2. 6,188 sf leased to omnichannel furniture chain Urban Ladder on a 6 year lease and 24 months lock-in

    3. 3,375 sf leased to grocery chain Godrej Nature's Basket on a 10 year lease and 18 months lock-in

    4. 1,400 sf leased to omnichannel organic products retailer The Organic World on a 9 year lease and 24 months lock-in

    Miraya Rose is a Grade A high-end mixed-use project developed by the UKn group with 82 high-end residential apartments, 32,000 sf of Grade A office and 62,000 sf of retail. The retail portion of the development is leased to marquee retail and F&B tenants like Starbucks, Toni & Guy, Truefitt & Hill, Toscano, Ebony, Daily Sushi, Cold Stone, Cafe Noir, Godrej Nature’s Basket, The Organic World, Tata Croma and Urban Ladder.
    All 4 units are located on the ground floor with frontage on the Whitefield Main Road leading to higher footfalls and sales.

    Whitefield is the second largest office and residential market in Bangalore with approx. 22 million sf of office stock (20% of total Bangalore market) with offices of major MNCs like Hindustan Unilever, Britannia, Tesco, Capgemini, Accenture, HP, among others.

    • 100%
      INVESTMENT AMOUNT
    • 41%
      RENTS
    • 1%
      INTEREST ON DEPOSIT
    • 61%
      PROFIT
    • 203%
      TOTAL
    Return Target : 17.5%
  • ₹ 27,37,00,000
    • Purchase Price
    • Stamp Duty
    • Sale Brokerage
    • Legal Fee
    • Reserve
    • Purchase Price
    • Stamp Duty
    • Sale Brokerage
    • Legal Fee
    • Reserve
    All in price

Miraya Rose is located on the Whitefield Main Road with close proximity to large IT Parks like ITPL, five-star hotels, Bangalore’s largest mall, large residential complexes, hospitals and highly rated international schools.

The location also enjoys excellent connectivity to the major MNC’s like Hindustan Unilever, Britannia, Tesco, Capgemini, Accenture, HP, among others. There are two major four-lane roads that connect Whitefield to Bangalore city.

Whitefield is being connected by extending the current purple line by 13 stops from Byappanahalli station. Once completed (expected 2020), rents and prices in Whitefield will increase significantly leading to strong upside on investment.

Property Share’s units are located on the Ground Floor totaling 22,588 sf with full frontage on the Whitefield Main Road.

  • ₹ 27,37,00,000
    • Purchase Price
    • Stamp Duty
    • Sale Brokerage
    • Legal Fee
    • Reserve
    • Purchase Price
    • Stamp Duty
    • Sale Brokerage
    • Legal Fee
    • Reserve
    All in price
  • ₹19,17,038
    gross rent
  • ₹2,28,083
    property management fee
  • ₹16,88,955
    net rent
Annual Yield : 8.4%
  • 01 Nov 2017
  • 2.5 YEARS
  • 31 Mar 2033
  • 22,588 SF
  • ₹ 72
  • 10 YEARS
  • 15%

TENANT DETAILS

Name : Tata Croma, Urban Ladder, Godrej Nature's Basket and The Organic World

Country : India

Office Locations : Pan-India retail and online stores

Description : Tata Croma is a large format retail chain for consumer electronics from the Tata Group having 134 stores in 32 cities. Nature's Basket is a grocery and fresh food store chain from the Godrej Group having 37 stores in Mumbai, Bangalore and Pune. Urban Ladder is an omnichannel furniture and decor retailer based out of Bangalore having currently has 3 experience centers in Bangalore and distribution across 75+ cities in India. It has raised $112.8 mn funding from marquee VCs like Kalaari, Sequoia and SAIF Partners. The Organic World is a retailer of organic groceries, apparel, home needs and personal care products backed by ex-Infosys co-founder S D Shibulal having 7 experience centers currently across Bangalore.

  • First and rare opportunity to purchase a retail asset in Bangalore
  • All units have full frontage on the busy Whitefield Main Road
  • High yield of 8.4% which increases to 9.0% with contracted escalations
  • 1% enhanced yield for pre-book investors
  • The investment sets up to a 17.5% IRR and 2.03x investment multiple
  • A downside case of only 5% appreciation still results in 13% IRR and 1.7x multiple
  • Whitefield is connected to Central Bangalore through 2 four-lane roads
  • Upcoming extention of purple line of Metro in close proximity to the property (Est. completion 2020)
  • Marquee tenant roster including Tata Croma, Urban Ladder and Nature's Basket
  • All tenants have health ratios (Rent / Sales) of less than 10%
DAY 0 Year 1 Year 2 Year 3 Year 4 Year 5
Investment (27,37,00,000) - - - - -
Rent - - - - - -
Tata Croma - 80,99,998 86,78,338 92,56,677 92,56,677 99,17,604
Urban Ladder - 53,99,460 60,06,899 62,09,379 62,09,379 69,07,934
Nature's Basket - 36,00,000 36,00,000 41,40,001 41,40,001 41,40,001
Organic World - 25,20,000 25,20,000 27,09,000 28,98,000 28,98,000
Rental Top-up - 27,37,000 - - - -
Interest on deposit - 6,48,000 6,48,000 6,48,000 6,48,000 6,48,000
Sale Value - - - - - 44,07,96,588
TOTAL ₹ (27,37,00,000) ₹ 2,30,04,458 ₹ 2,14,53,237 ₹ 2,29,63,057 ₹ 2,31,52,057 ₹ 46,53,08,127
  • A detailed investment note on the property by our Investment Team
  • A detailed report on the title by our lawyers Cyril Amarchand Mangaldas