₹25 Lakh

Min. Investment

9%

First-Year Rental

16.2%

Targeted IRR

NRO

Invest via

This is a rare find. Opportunity usually finished within 2-3 Days

₹ 32.85 Cr

/ ₹ 32.85 Cr

Investment Raised

Asset Closed

Investors are getting Monthly Rental & Capital appreciation

Overview

We are offering an opportunity to co-own a 36,230 sq. ft. of A+ Grade office space that is strategically situated in Outer Ring Road Sarjapur, the largest IT Corridor of Bangalore. The proposed office space spans the entire 4th floor of the newly constructed “South Tower” and is leased to an institutional grade tenant. This is a unique opportunity to participate in the “hub & spoke” trend that has become increasingly popular with enterprise tenants in the backdrop of the pandemic.

Highlights

Micro Market

Strong market fundamentals: Vaishnavi Tech park is located strategically at the intersection of Outer Ring Road (ORR) and Sarjapur Micro Market. ORR is the largest IT corridor of Bangalore whilst the Sarjapur Micro Market has a 0% vacancy rate.

Current & Upcoming Infrastructure:With proximity to 2 upcoming metro stations and the Outer Ring Road, the development has excellent connectivity.

Stellar tenancy profile:Some of the prominent tenants in the vicinity include, Microsoft, Goldman Sachs, Intel, HCL, Accenture, Genpact.

Vaishnavi Tech Park

A+ Grade Building: As a testament to the quality of the asset, the building has been designed for IGBC Platinum rating.

Strong Demand:Despite Covid, the building has been entirely leased to the leading managed leasing operator and has further been subleased to various MNC and Blue Chip tenants.

New Building:The tower has been newly constructed with state-of-the-art construction technology to deliver superior quality.

Connectivity: The development is situated ~350m from the closest upcoming metro station and ~300m from the outer ring road.

Managed Leasing

Vacancy Risk Mitigation: Dual protection from managed leasing operator, Smartworks and sub-tenant, Groww.

High Stickiness:Smartworks has tenanted the entire building of ~4,00,000+ SF. Having invested high marketing costs, tenancy expenses, building upgradation capex, and furnishing capex, the tenant is highly sticky to the building.

Superior Asset Upkeep:Value add facilities, workplace digitisation, and professional building management is provided by Smartworks.

Tenancy

Tenant Overview

Smartworks is India’s largest and profitable provider of agile workspaces, serving 500+ enterprise customers including Microsoft, Amazon Web Services, Samsung, Tata, EY amongst others. Smartworks is the market leader in India focusing on large enterprise clientele with a bespoke, tech enabled proposition. Hurun India has named Smartworks to its future unicorn list 2021.


Tenant Highlights

Area Under Management

4+ MSF


Revenue Growth (2020-2021)

3x


Market Cap

3,000+ Cr


Institutional Backing

Keppel Land, Singapore


Lease Highlights

Leased Area

36,230 Sq. Ft


Current Rent

INR 60


Escalation

15% every 3 years


Lease Period

9 Years


Lock-In Period

5 Years


Pricing

Gross Price:

INR 31,72,29,880

Add: Stamp Duty:

INR 1,58,06,895

Add: Registration:

INR 27,97,681

Add: Acquisition Expenses:

INR 1,08,98,369

Add: Reserve:

INR 17,00,000

Add: Property Tax:

INR 41,67,175

Add: Legal Expenses:

INR 14,00,000


Gross Investment:

INR 35,40,00,000

Floor Plan

Location

Highways


Outer Ring Road

0.4 km

Metro Station


Bellandur Metro Station

0.9 km

Ibbalur Metro Station

0.9 km

This is a rare find. Opportunity usually finished within 2-3 Days

₹ 32.85 Cr

/ ₹ 32.85 Cr

Investment Raised

Asset Closed

Investors are getting Monthly Rental & Capital appreciation

Not able to decide yet?Schedule 30 Min Consultation

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