Bangalore Office Opportunity II

Investment Thesis

Major Business Hub
The asset is located in a major business hub of Bengaluru. The surrounding area has witnessed tremendous growth in the past decade and is home to several MNCs and Indian corporates.
Great Connectivity
The asset is located just off the Outer Ring Road (ORR) and is well connected to the rest of the city. An upcoming metro station just 300 metres away will further increase the value of the asset.
World-Class Tenant
The tenant is one of the world’s largest manufacturers of sportswear and has been in operation for over 70 years. The company plans to accommodate its fast growing India operations at the asset.

Overview

This is an opportunity to invest in a brand new, Grade-A Office asset located in Mahadevpura, Bengaluru. The tenant is an international sportswear brand. Lease of 15 years and Lock-in period of 5 years.

With high yields, long lease terms, excellent location, and a world class tenant. The asset makes for a compelling investment opportunity.

Location

The asset is located in Mahadevpura, just off the Outer Ring Road (ORR), and the ITPL main road. Thanks to the proximity of major roads, the asset has excellent connectivity to the rest of Bengaluru.

The upcoming Mahadevapura metro station is within walking distance of the asset and is expected to be completed in 2023. The metro line will significantly reduce commuting times to the asset, making it more attractive to tenants.

The area is home to several MNCs including Accenture, Amazon, Hewlett Packard, Dell, EY, Capgemini, etc.

Tenant Details

The tenant is one of world’s largest designers and manufactures of athletic and casual footwear, apparel and accessories. The company is leasing the asset to accommodate its fast growing India operations. The brand has an extensive media presence and is a prolific sponsor of sports teams including Cricket, Football, F1, and athletics. The company has been in operation for more than 70 years and has a presence in 120 countries.

Lease Start Date February 2024 - Lease End Date November 2039

Lock-in End Date February 2029 100%