Cafe / restaurant in Spain 1049 sq.m. No. 151932

A commercial property for sale with tenant in a respectable neighbourhood in Madrid.

Community:
Castilla Square;
dense residential area;
densely populated area with well-developed infrastructure (bank branches, pharmacies, various establishments, chain supermarkets such as Mercadona and Lidl);number of hotels, including the major international chains Melia Hotels, NH Hotels and even a Hilton hotel;educational institutions, including a school and a conservatory.
The area is characterised by high traffic, surrounded by office buildings, hotels and a well-developed transport network: several metro and bus stations are nearby, as well as a convenient exit to the M-30 motorway.

The premises are leased for a fashionable restaurant.

Lease conditions:
contract renewed: December 2019;lease term: 20 years (on a 5+5+5+5+5+5 structure, each term is binding);lease price: 12.800€/month; IBI tax and comunidad costs are paid by the tenant;annual indexation of the rent according to the IPC (Consumer Price Index);additional 3% increase in the rent at each renewal.
Thereby, the starting yield is 5% with guaranteed growth to at least 5.5%.

The two-storey premises are located on the ground floor of a high-rise residential building. The total area is 1049m2 which is distributed as follows:
first floor: 423m2;second floor: 626m2.
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