Commercial property in Spain 828 sq.m. No. 151929

Property description

A two-storey property for sale in an upmarket neighbourhood of Madrid.

The property is strategically located:
in a neighbourhood of premium boutiques: Gucci, Dior, Louis Vuitton, Dolce & Gabbana;in close proximity to several hotels, including a 5* hotel across the street from the premises;close to Paseo de la Castellana, one of the city's key alleys and to calle Serrano, the street with the most expensive real estate in all of Spain;2 shopping centres within 300 metres, among them El Corte Ingles.
The property is leased to an international chain sports club.

Lease conditions:
Agreement signed: January 2025;Lease duration: 15 years;Binding period: 3 years;rental cost: 32.000€ / month; IBI tax and comunidad costs are paid by the tenant;annual indexation of the rent according to the IPC (consumer price index);additional increase of 3% in 2031 and in 2036.
Thereby, the starting net yield is 4.3 per cent.

The two-storey premise is located on the ground floor of a multi-storey residential building.