High yielding office space in Rocca Al Mare
New register document attached to the project's documents section.
7.4% net annual rental income is distributed monthly, while an additional 5.8% annual interest is expected to be distributed as capital growth when the property is sold. Reinvest24 presents an opportunity to invest in high-yielding commercial property in Estonia. 8-year notarized rental contract with the established company if the tenant cancels the contract Reinvest24 will charge 12months rental fee as well as 3 months deposit, therefore 15 months of rent is guaranteed with the Notary. Also, Reinvest24 begins counting interest once you place your investment, this is really helpful as other projects took longer to get funded in the past.
*Reinvest24 will charge a 2% investment placement fee on your investment.
8-year notarized rental contract with an established company
Investments start generating rental income from the day of placing the investment
High-quality office space with a sea view
Given property is located in Rocca Al Mare, Tallinn and consists of a spacious office (263,8m2) on the 4th floor, server room, storage room in the underground parking, with the total indoor area of 309 m2. From the office space opens a great view of the sea, this view will remain unchanged over time, as the city does not allow to build closer to the sea. The property comes with an 8-year notarized rental contract with an established Estonian company - Jazz.
Rocca Al Mare is a highly valued area next to the sea, just a 10-minute drive away from the city center of Tallinn. The area has been developing rapidly for the past 20 years, one of the biggest and oldest shopping center´s in Tallinn is located there, just 600m from our property. The Tallinn Zoo is located 300m away and from the area, you can also find health trails, open-air museums, concert venues, ice rink, etc. provide opportunities for both relaxation and activity.
This luxurious new development was built in 2017. The location serves as a source of inspiration for the design of the building, which is named LAEV (ship). Not only in terms of concept and architectural exterior design but also in the design of all interior solutions. The building´s maximum emphasis is placed on the sustainable use of energy. The heating is based on a geothermal source and free cooling also operates through 65 active piles on the ground. The facade is articulated with floating silver sun blades, which save up to 20% of the energy used for cooling in summer.
The investment property is a 309 m2 office space along with additional utility rooms and parking spaces at the address Vabaõhumuuseumi 1, Tallinn. Our property is located on the 4th floor. LAEV is a unique building that is considered as the pearl of real estate in Rocca Al Mare.
The average sq meter price in this building is around 3350 EUR. Our 4th-floor property comes with a price of 2400 EUR per sq meter, in addition to that are the underground storage room that is valued at 65 000 EUR. The Rocca Al Mare district is becoming one of the most prestigious areas in Tallinn in the next 10 years. As the area is located next to the sea, there isn't much more available space for new buildings. The growing demand will also reflect on the prices. Considering the buying price, we see a great opportunity for profitable exit in 10 years period.
The rental contract is notarized and signed for 8 years with the possibility of extension with a successful Estonian car wash chain - Jazz. The rental price is fixed for the first 2 years, after that the price indexation will be applied. The utility expenses are very low, as the building is designed to be energy efficient. The investment is providing a stable low-risk attractive rental yield and a great potential for long-term capital growth. The district is becoming unrecognizable over the next 10 years, forming the heart of the rapidly developing West Tallinn, home to residential real estate, offices and a hotel.
The whole area is developing fast and the Rocca Al Mare Shopping Center is leading the way. In the next 10 years, a total of 88,000 square meters is planned to be developed. According to initial plans, the retail space will be increased by 20,000 square meters. Most of the volume comes from today's parking lot, which is replaced by a parking house. The Rocca al Mare Center is visited more than 5.5 million times a year. The total area of the shopping center at the moment is 74,600 square meters.