Retail

Kanon: El Osito

CV-35 17A, La Pobla de Vallbona, Valencia, Valencia, 46185, ES

Kanon: El Osito_Property for Sale

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Kanon: El Osito 2_Property for Sale

Asset description

  • Retail Park with 20,332 m2 located in the northwest side of Valencia.
  • Excellent visibility and access through Ademuz highway, CV-35, just 10 minutes from Valencia’s city centre.
  • Direct catchment area of 105,000 inhabitants within a 10 minutes' drive and around 400,000 within a 15 minutes.
  • No direct competition within its primary catchment area.
  • Good tenant mix with Leroy Merlin, Casa, Jysk, Kiwoko, Maisons du Monde, FeuVert, Economy Cash

Attributes

Asking Price
$33,042,000
Building area gross
218,863 sf
Occupancy
96.00%
Year built
2008
Tenure
Freehold

Investment highlights

  • Consolidated retail park opened in 2008 with a GLA of 20,322 sqm.
  • High occupancy rate (96.4%) and interest from top level occupiers to take the available area (742 m2)
  • Average sustainable rent of 7.6€/sqm/month with growth potential through annual indexation by CPI (no caps).
  • WAULT: c. 4-year. Mandatory period until 2028 for Leroy Merlin and Maisons du Monde recently signed.
  • Asset deal with 100% freehold
  • Possibility to acquire 100% of a consolidated retail park strategically located in a major spanish city
Kanon: El Osito 4_Property for Sale

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Last updated
Sep 21, 2022