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Seawoods Grand Central III Navi Mumbai cover image
Seawoods Grand Central III
Navi Mumbai, Mumbai
Seawoods Grand Central III Navi Mumbai big hero
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5+

Seawoods Grand Central III

Navi Mumbai , Mumbai

Resale

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

Investment Highlights

9%

HIGH RENTAL YIELD

17.5%

HIGH RETURNS

Rs. 14,105

ATTRACTIVE PRICE

Bernhard Schulte & ClassNK

MNC Tenants

Investment Returns

Investment Amount

Tenant Details

Name

Bernhard Schulte

Country

Germany

Description

The 4th floor unit is leased to Bernhard Schulte Shipmanagement (BSM), a 135 year old German integrated maritime solutions company managing 600 vessels, 15,000 employees through a network of 10 ship management, 26 crew services and 6 wholly-owned maritime training centres around the world.

Time Period

Lease Start Date

01 Oct 2018

Lock-in Period

3 YEARS

Lease End Date

01 Oct 2023

Tenant Highlights

9,509 SF

Total Area

₹93

Rent Per SF

5 YEARS

Lease Period

15%

Escalation

Name

Class NK

Country

Japan

Description

The 2nd floor unit is leased to ClassNK (also known as Nippon Kaiji Kyokai), a Japanese co. with more than 5,000 employees that provides shipping services including ship classification, vessel approval, certifications and other technical services.

Time Period

Lease Start Date

01 Mar 2019

Lock-in Period

3 YEARS

Lease End Date

01 Mar 2024

Tenant Highlights

7,649 SF

Total Area

₹99

Rent Per SF

5 YEARS

Lease Period

15%

Escalation

Property Pricing

₹ 32,04,16,600

₹ 1,92,24,996

₹ 60,000

₹ 32,52,789

₹ 64,08,332

₹ 10,00,000

₹ 7,69,179

₹ 32,68,104

Location Highlights

Seawoods Grand Central is located above the Seawoods railway station in Navi Mumbai.

Seawoods station connects commuters to Panvel in the south, Thane in the north and Dadar/CST in central and south Mumbai making the property one of the best located developments in the city. The new Navi Mumbai airport was inaugurated by PM Narendra Modi in February '18 and is expected to start operations for the first phase by early 2020 which should lead to significant upside in the property.

A Transharbour link connecting Navi Mumbai to central Mumbai is also being constructed by L&T along with metro connectivity making this property very attractive from an investment standpoint.

Floor Plan

PropertyShare’s unit is located on the 2nd floor and 4th floor of Wing F and Wing D respectively.

Seawoods Grand Central III Navi Mumbai floor plan

Investment Overview

There is an opportunity to purchase a 22,716 square feet commercial office space (76% leased) in L&T Seawoods Grand Central - India’s first and largest Transit Oriented Development - located in Navi Mumbai, for an all-in cost of Rs. 35,44,00,000 (Rs. 14,105 per sf purchase price).

The listing is a combination of 3 units in Tower 2:

1. 7,649 sf leased to Japanese shipping company Class NK on a 5 year lease and 3 year lock-in

2. 9,509 sf leased to German shipping company Bernhard Schulte on a 5 year lease and 3 year lock-in

3. 5,558 sf vacant area on the 2nd floor currently in advanced stages of discussions

Seawoods Grand Central is a LEED Gold certified high-end mixed-use development with a 1 mn sf mall, 2 mn sf office and an upcoming hotel built on top of the centrally connected Seawoods Railway Station. The new Navi Mumbai airport which is under-construction is just 10 kms away from Seawoods Grand Central. The Airport is expected to be completed by March 2020.

The integrated development has a 1 mn sf operational mall which has been purchased by global real estate PE fund Blackstone and houses marquee tenants like H&M, Lacoste among others.

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