The Capital II - Investment Case: Listen to Kunal Moktan, Property Share Co-founder & Chief Investment Officer, speak about how the location, returns, purchase price and quality of the tenant make this property an excellent investment opportunity.
There is an opportunity to purchase a 5,501 sf commercial office space in The Capital within the Bandra Kurla Complex, Mumbai for an all-in cost of Rs. 21,30,00,000 (Rs. 35,266 per sf) which implies a 8.7% yield for pre-book investors.
The Capital is a platinum grade building in the heart of Bandra Kurla Complex and houses the India HQs of Deutsche Bank along with tenants like Pfizer, Symantec, MunichRe, VISA among others.
The unit has just been leased to Qualcomm India for a 5 year lease with a 3 year lock-in. The Qualcomm lease is at a 7% discount to recent leases in the building implying significant leasing upside in the transaction.
We believe the pricing, location, tenant, rental yield and quality of the development will lead to significant upside over the next 4-5 years.
The Capital is Located in Bandra Kurla Complex which is Mumbai’s ﬁnancial centre and the preferred location for all blue chip ﬁnancial and investment ﬁrms. It houses headquarters of the National Stock Exchange, SEBI, large public and private sector banks, international consulates, ﬁve star hotels, international schools and convention centres.
Property Share’s unit is located on the 6th floor and leased to Qualcomm. It is well laid out floor divisible into 4 separate office with lifts in the middle and bathrooms in the four corners.
Name : Qualcomm
Country : San Diego, USA
Office Locations : 184 offices worldwide
Description : Qualcomm is an American multi-national semiconductor and telecommunications equipment company which has a market cap of about $63.5 B and is ranked 133rd on the Fortune 500 List.
|DAY 0||Year 1||Year 2||Year 3||Year 4||Year 5|
|Interest on Deposit||-||6,60,120||6,60,120||6,60,120||6,60,120||6,60,120|
|TOTAL||₹ (21,30,00,000)||₹ 1,84,34,964||₹ 1,63,04,964||₹ 1,63,04,964||₹ 1,86,51,690||₹ 36,16,90,320|