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Under Construction Shopping Center In Wilhelmshaven For Sale

Wilhelmshaven, Lower Saxony
Asking Price:
€36,000,000
Sales Revenue:
Available on request
Cash Flow:
Available on request

Under construction shopping center in the city of Wilhelmshaven.
The shopping center will be built and opened in the summer of 2018. Start of construction - spring 2017. The project is supported by city administration and regional administrations. Total area - 7 000 sq. m. Total area - 15 000 sq. m.
Wilhelmshaven is a city of district subordination in the North of Germany, in Lower Saxony. Population: 75 900 people (as of 2013). Founded in 1869 by the king of Prussia Wilhelm I as the base of the Prussian Navy. Was the main base of the German Navy in two world wars. Currently the main naval base of Germany on the North sea and the third largest port (after Hamburg and the port group of Bremen and Bremerhaven), specialized in transshipment of oil products.
The coast of the North sea, on which the city is situated, is visited annually by 19 100 000 tourists. Wilhelmshaven and the surrounding area visit each year 5 700 000 people, who stay there for the night. Their stay is usually combined with shopping. It is expected the increase of tourist flow in the coming years by 34 %. The shopping center will be located in the heart of the city, near the Central railway station and the main shopping street.
The cost of the shopping center - 36 000 000 € + Commission fee paid by the buyer upon conclusion of a notarial contract with the successful marketing activities of the shopping center has already leased 80% of the world famous brands. The owner will not only get an annual income from rental payments in the amount of 2 400 000 euros, according to the forecast, after the opening, but 10% of the total income. According to the most conservative estimates it can be 3 000 Euro per sq. m. Under a more optimistic scenario, income will be 4400 Euro per sq. m. the rate of return of 6.67 % per annum. The payback period is 15 years. All information obtained from the project owner. The documents are ready to deal. Additional information is available upon request and upon the signing of the LOI and NDA potential acquirer.

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