Overview
An ideal opportunity to invest in a Grade A+ asset located at Ackruti Centre Point, Andheri. The asset is located on the 6th and 7th floor of the building and is let out to ICICI bank and IIFL Securities (IIFL). Both ICICI bank and IIFL are Grade A tenants with long leases and lock-in. ICICI bank is one of the ‘Big Four’ banks of India while IIFL is one of the leading financial services company in India. The asset is located in Andheri which is an evergreen real estate market primarily known for its proximity to the International and Domestic Airports and for the MIDC, SEEPZ, IT hubs and commercial spaces. It is home to many known global brands and corporate offices and has excellent connectivity from both Central and Harbour railway lines. It is a very attractive investment opportunity given the asset and tenant quality, long lease and location advantage. It gives further advantage of diversification due to the two prime tenants occupying the space.
Highlights
Tenant
ICICI Bank, IIFL
Min Ticket Size
25 Lakhs
Rental Yield
9.20%
Target IRR
15.38%*
*Calculated on Asset value appreciation of 7.5% CAGRAsset Area
35,632 sq ft
Asset Value
₹ 44.54 Crore
Open
Location
Evergreen commercial market in Mumbai | Close proximity to International and Domestic Airport | Excellent connectivity via Rail and Metro
Andheri East
An evergreen investment destination, Andheri, houses many commercial spaces, including media houses, IT/ITeS, consulting, pharmaceutical companies and logistic offices. It is one of the largest areas of Mumbai and is well-connected to the other parts of the city via rail, bus, metro facilitating access to other commercial hubs. Ackruti Centre Point is located in Andheri’s MIDC main road. The nearest metro station, Chakala, is just within a km from the building.
Railway Station
Chakala Metro Station(line 1) - 900M
MIDC Metro Station(line 3) - 1km
Andheri Railway Station - 2.9km
Airport
Mumbai Domestic Airport - 4.9km
Mumbai International Airport - 3.3km
Gallery
Tenant
Formed in 1994, ICICI bank is a leading private sector bank in India, offering a wide range of banking products and financial services to corporate and retail customers. It has 5,324 branches and 15,661 ATMs across India. The bank has 1 lakh+ employees and a brand presence in 17 countries. Its the only bank to receive an A+ rating for its sustainable practices and robust environment, social and governance framework. Its revenue is ₹ 77,913.36 cr and its asset base is ₹ 1,377,292.23 cr
Lease Terms
Lease Start Date - January 2021
Lock-in Period - 3 Years
Lease Period - 9 Years
Lease End Date - January 2030
Area - 20,271 sq ft
Rent - ₹ 84 psqft pm
Escalation - 12.5% every 3 years
Security Deposit - 6 months
Fitouts - Done by Tenant
IIFL is one of the leading players in the Indian financial services, founded in 1995. It has net-worth of over ₹ 45 bn and global presence in Canada, United States, UK, Singapore, Hong Kong, Switzerland, Mauritius, and UAE.IIFL has a workforce of 10,500+ employees and a strong network of over 2,250 service locations spread across India.It has more than ₹ 233 bn loan assets under management, over ₹ 1,250 bn wealth assets and 300+ world’s top institutional investors relying on IIFL's research
License Terms
License Start Date - February 2021
Lock-in Period - 5 Years
License Period - 5 Years
License End Date - February 2026
Area - 15,361 sq ft
Rent - ₹ 82 psqft pm
Escalation - 12.5% every 3 years
Security Deposit - 6 months
Fitouts - Done by Tenant
Building Amenities
Developer - Hubtown
Size of the Building - 3 Lakh sq ft
Facility Manager - Hubtown
Car Parking
High Speed Elevators
CCTV Camera
Banking and Restaurants
Power Backup
Cost Breakup
Cost of Premises
₹ 41,55,00,000
93.3%
Stamp Duty and Registration
₹ 1,24,95,000
2.8%
Acquisition Fee
₹ 1,24,65,000
2.8%
Other Charges
₹ 29,75,000
0.7%
Legal Fees
₹ 10,00,000
0.2%
Reserve
₹ 10,00,000
0.2%
Total Acquisition Cost
₹ 44,54,35,000
100.0%
Overview
An ideal opportunity to invest in a Grade A+ asset located at Ackruti Centre Point, Andheri. The asset is located on the 6th and 7th floor of the building and is let out to ICICI bank and IIFL Securities (IIFL). Both ICICI bank and IIFL are Grade A tenants with long leases and lock-in. ICICI bank is one of the ‘Big Four’ banks of India while IIFL is one of the leading financial services company in India. The asset is located in Andheri which is an evergreen real estate market primarily known for its proximity to the International and Domestic Airports and for the MIDC, SEEPZ, IT hubs and commercial spaces. It is home to many known global brands and corporate offices and has excellent connectivity from both Central and Harbour railway lines. It is a very attractive investment opportunity given the asset and tenant quality, long lease and location advantage. It gives further advantage of diversification due to the two prime tenants occupying the space.
Highlights
Tenant
ICICI Bank, IIFL
Min Ticket Size
25 Lakhs
Rental Yield
9.20%
Target IRR
15.38%*
*Calculated on Asset value appreciation of 7.5% CAGRAsset Area
35,632 sq ft
Asset Value
₹ 44.54 Crore
Open
Location
Evergreen commercial market in Mumbai | Close proximity to International and Domestic Airport | Excellent connectivity via Rail and Metro
Andheri East
An evergreen investment destination, Andheri, houses many commercial spaces, including media houses, IT/ITeS, consulting, pharmaceutical companies and logistic offices. It is one of the largest areas of Mumbai and is well-connected to the other parts of the city via rail, bus, metro facilitating access to other commercial hubs. Ackruti Centre Point is located in Andheri’s MIDC main road. The nearest metro station, Chakala, is just within a km from the building.
Railway Station
Chakala Metro Station(line 1) - 900M
MIDC Metro Station(line 3) - 1km
Andheri Railway Station - 2.9km
Airport
Mumbai Domestic Airport - 4.9km
Mumbai International Airport - 3.3km
Gallery
Tenant
Formed in 1994, ICICI bank is a leading private sector bank in India, offering a wide range of banking products and financial services to corporate and retail customers. It has 5,324 branches and 15,661 ATMs across India. The bank has 1 lakh+ employees and a brand presence in 17 countries. Its the only bank to receive an A+ rating for its sustainable practices and robust environment, social and governance framework. Its revenue is ₹ 77,913.36 cr and its asset base is ₹ 1,377,292.23 cr
Lease Terms
Lease Start Date - January 2021
Lock-in Period - 3 Years
Lease Period - 9 Years
Lease End Date - January 2030
Area - 20,271 sq ft
Rent - ₹ 84 psqft pm
Escalation - 12.5% every 3 years
Security Deposit - 6 months
Fitouts - Done by Tenant
IIFL is one of the leading players in the Indian financial services, founded in 1995. It has net-worth of over ₹ 45 bn and global presence in Canada, United States, UK, Singapore, Hong Kong, Switzerland, Mauritius, and UAE.IIFL has a workforce of 10,500+ employees and a strong network of over 2,250 service locations spread across India.It has more than ₹ 233 bn loan assets under management, over ₹ 1,250 bn wealth assets and 300+ world’s top institutional investors relying on IIFL's research
License Terms
License Start Date - February 2021
Lock-in Period - 5 Years
License Period - 5 Years
License End Date - February 2026
Area - 15,361 sq ft
Rent - ₹ 82 psqft pm
Escalation - 12.5% every 3 years
Security Deposit - 6 months
Fitouts - Done by Tenant
Building Amenities
Developer - Hubtown
Size of the Building - 3 Lakh sq ft
Facility Manager - Hubtown
Car Parking
High Speed Elevators
CCTV Camera
Banking and Restaurants
Power Backup
Cost Breakup
Cost of Premises
₹ 41,55,00,000
93.3%
Stamp Duty and Registration
₹ 1,24,95,000
2.8%
Acquisition Fee
₹ 1,24,65,000
2.8%
Other Charges
₹ 29,75,000
0.7%
Legal Fees
₹ 10,00,000
0.2%
Reserve
₹ 10,00,000
0.2%
Total Acquisition Cost
₹ 44,54,35,000
100.0%
Overview
An ideal opportunity to invest in a Grade A+ asset located at Ackruti Centre Point, Andheri. The asset is located on the 6th and 7th floor of the building and is let out to ICICI bank and IIFL Securities (IIFL). Both ICICI bank and IIFL are Grade A tenants with long leases and lock-in. ICICI bank is one of the ‘Big Four’ banks of India while IIFL is one of the leading financial services company in India. The asset is located in Andheri which is an evergreen real estate market primarily known for its proximity to the International and Domestic Airports and for the MIDC, SEEPZ, IT hubs and commercial spaces. It is home to many known global brands and corporate offices and has excellent connectivity from both Central and Harbour railway lines. It is a very attractive investment opportunity given the asset and tenant quality, long lease and location advantage. It gives further advantage of diversification due to the two prime tenants occupying the space.
Highlights
Tenant
ICICI Bank, IIFL
Rental Yield
9.20%
Asset Area
35,632 sq ft
Min Ticket Size
25 Lakhs
Target IRR
15.38%*
*Calculated on Asset value appreciation of 7.5% CAGRAsset Value
₹ 44.54 Crore
Open
Location
Evergreen commercial market in Mumbai | Close proximity to International and Domestic Airport | Excellent connectivity via Rail and Metro
Andheri East
An evergreen investment destination, Andheri, houses many commercial spaces, including media houses, IT/ITeS, consulting, pharmaceutical companies and logistic offices. It is one of the largest areas of Mumbai and is well-connected to the other parts of the city via rail, bus, metro facilitating access to other commercial hubs. Ackruti Centre Point is located in Andheri’s MIDC main road. The nearest metro station, Chakala, is just within a km from the building.
Railway Station
Chakala Metro Station(line 1) - 900M
MIDC Metro Station(line 3) - 1km
Andheri Railway Station - 2.9km
Airport
Mumbai Domestic Airport - 4.9km
Mumbai International Airport - 3.3km
Gallery
Tenant
Formed in 1994, ICICI bank is a leading private sector bank in India, offering a wide range of banking products and financial services to corporate and retail customers. It has 5,324 branches and 15,661 ATMs across India. The bank has 1 lakh+ employees and a brand presence in 17 countries. Its the only bank to receive an A+ rating for its sustainable practices and robust environment, social and governance framework. Its revenue is ₹ 77,913.36 cr and its asset base is ₹ 1,377,292.23 cr
Lease Terms
Lease Start Date - January 2021
Lock-in Period - 3 Years
Lease Period - 9 Years
Lease End Date - January 2030
Area - 20,271 sq ft
Rent - ₹ 84 psqft pm
Escalation - 12.5% every 3 years
Security Deposit - 6 months
Fitouts - Done by Tenant
IIFL is one of the leading players in the Indian financial services, founded in 1995. It has net-worth of over ₹ 45 bn and global presence in Canada, United States, UK, Singapore, Hong Kong, Switzerland, Mauritius, and UAE.IIFL has a workforce of 10,500+ employees and a strong network of over 2,250 service locations spread across India.It has more than ₹ 233 bn loan assets under management, over ₹ 1,250 bn wealth assets and 300+ world’s top institutional investors relying on IIFL's research
License Terms
License Start Date - February 2021
Lock-in Period - 5 Years
License Period - 5 Years
License End Date - February 2026
Area - 15,361 sq ft
Rent - ₹ 82 psqft pm
Escalation - 12.5% every 3 years
Security Deposit - 6 months
Fitouts - Done by Tenant
Building Amenities
Developer - Hubtown
Size of the Building - 3 Lakh sq ft
Facility Manager - Hubtown
Car Parking
High Speed Elevators
CCTV Camera
Banking and Restaurants
Power Backup
Cost Breakup
Cost of Premises
₹ 41,55,00,000
93.3%
Stamp Duty and Registration
₹ 1,24,95,000
2.8%
Acquisition Fee
₹ 1,24,65,000
2.8%
Other Charges
₹ 29,75,000
0.7%
Legal Fees
₹ 10,00,000
0.2%
Reserve
₹ 10,00,000
0.2%
Total Acquisition Cost
₹ 44,54,35,000
100.0%
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