Navi Mumbai Office Opportunity I

Investment Thesis

World-class Asset
Seawoods Grand Central is India’s largest transit oriented development featuring Grade-A offices, retail space, residencies, and an integrated railway station. The building is built to international standards and commands a premium.

Tier-I tenant
The tenant is a 140-year old German enterprise with a major presence in industrial adhesives, home care and beauty products. Since asset serves as the company’s India Head-Quarters, the tenant has made significant investments into the property and is unlikely to leave for the forseable future.

Excellent Location
Navi Mumbai is a fast growing office mirco-market thanks to it robust social infrastructure and favorable leasing costs (compared to Mumbai). With a slew of upcoming infrastructure developments, the area has a strong potential for value appreciation.

Overview

This is an opportunity to invest in 35,998 sqft of office space in L&T Seawoods Grand Central, Navi Mumbai. The asset is a world-class commercial property with an integrated mall, residencies, and suburban railway station. The tenant is a 140-year old German industrial and consumer company.

With long lease terms, lucrative yields and a strong potential for capital appreciation, the asset is an ideal long-term investment.

Location

The asset is located in Seawoods, an upscale part of Navi Mumbai. The property is well connected to the rest of the Mumbai Metropolitan Region by road, rail, and water services. With the upcoming Navi Mumbai airport, metro, and trans-harbour sea link, the area is bound to see greater value appreciation.

Airport Mumbai International Airport - 35 Km Navi Mumbai International Airport (upcoming) - 7 Km
Water Taxi Seawoods Water Taxi Terminal - 4 km
Rail/Metro Seawoods - Darave station - 0 km (integrated) Belapur CBD Metro (upcoming) - 3 Km
Key Roads Mumbai-Pune Expressway - 1.5 Km Vashi Bridge - 10 Km Trans-harbour Sealink (upcoming) - 10 Km

Tenant Details (1)

The tenant is a US based technology company that provides healthcare billing, coding and customized analytics services to some of the USA’s largest healthcare organizations. In 2019, the company was acquired by Baring Private Equity Asia for $320 million. The company has been present in Chennai since inception and already occupies a floor in Prince Infocity II. The asset is a further expansion of its operations in India.

Lease Start Date : January 2022 - 3 Lease End Date January 2027

Lock-in End Date May 2025 50%