₹32.87 Cr
Investment Size
Bangalore
LocationUnleased commercial property, Yeshwanthpur, North Bangalore
Why invest in this opportunity
This property offers good location, developer brand and tenant brand and thus predictable and stable long term cashflows. This Tech Park is in the business suburb of the West corridor, that strategically connects IT, Residential, Commercial, and political hubs of the city by Metro and wide roads. The upcoming metro station is at a walkable distance from the site. Apart from tech spaces, the tech park is connected through wide roads to high and premium residential localities, social and recreational hubs, malls, and many educational institutes.
Accessibility and Location
The project is equidistantly connected to Hebbal, Vidhana Sodha and NICE Road junction ~ 7 KM through wide 100 feet roads. Property is within arms distance from Top 5-star hotels like Sheraton and Taj and the same can be said with the hospitals. Schools and recreational infrastructure connectivity is just a stone throw distance away from the tech park.
Market and Asset class performance
This market does not boast of a huge supply and thus with the limited space availability the leasing activity is also restricted to just 5/8 % of total leasing in Bangalore market. Grade A rentals range from Rs 70 to 110 Rs/Sqft and the average passing rent is lower than market rent by 15 % that is above Rs 90 per sqft. The stock here is 2.6 million sqft and average occupancy is upwards of 90 % in the grade A stocks.
Expected Growth Scenario
The space in this vicinity is available at the 20 % discount of rentals to tech space rentals on the ORR despite better road and metro connectivity and proximity to high grade residential, affordable & top-quality schools, hospitals, and recreational spaces. We expect the spaces to get filled up immediately upon the improvement in buoyancy in the rental market.
