Commercial in city Essen
5000.00 sq.m.

€ 5 400 000

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Germany. Essen. Commercial building with income of 416 642 euros per year.
Essen, Kapstadt
Property: Kopstadtplatz
Place: Kapstadt 10, Essen (city / town)
Area: 5.000 sq. m.
Plot area: 1.500 sq. m.
Year built: 1914 (the first house for clothes in Europe)
This place is situated in Essen, at the corner Kopfstadtplatz, near the main pedestrian zone between the Limbecker Platz and Essen city hall.
1st floor consists of a retail store with KiK and Planet of Bikes. The lease agreement with EIC will continue until 2029, and on the Planet of Bikes is renewed every 2 or 3 years. The lease agreement with the city renews each year for one year, because it is not allowed to sign leases with a longer duration. The city leases the building for 35 years, so it is unlikely that the agreement will no longer apply. But if the city or Planet of Bikes do not extend the agreement, it will have a chance to raise the rent about 30% for a new tenant. No problems with renting apartments.
Price: 5.400.000,00- €
Profitability: 7%
There is a choice of apartments and houses in various budget, including commercial facilities.

Seller information

Seller type Agency
Company YouLand

Location of the property on the map

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