Commercial Building For Sale In Chennai

 This shopping mall is a 5.38 lakh square feet approved retail mall development is a part of an integrated mall, hotel & residential development, spread across 6.21 acres which is located on Old Mahabalipuram Road in Egattur, Chennai. 

This shopping mall on a land of area 6.21 acres situated at Egattur, Old Mahabalipuram Road (diagonally opposite to SIPCOT IT Park, Siruseri), adjacent to the 110 acre Hiranandani Upscale residential development. The project is configured as a Shopping Mall, a 126 keys business class hotel and a 106 unit residential development, wherein the hotel has already been sold to a third party.

THE OFFERING

• The Mall part is being developed on 4 acres Un Divided Share (UDS) out of 6.21 acres of land parcel and location of the subject site is in Close proximity to SIPCOT IT Park and has an excellent frontage along the Old Mahabalipuram road.
• The total leasable area is approximately 5.38 lakhs sq ft with an estimated average minimum guarantee lease rent of INR 80 Per sq ft pm. This is excluding revenue share income, car park charges, advertisement income & CAM margin (other income).
• The mall commenced on March 2019. All anchor tenants like INOX, Lifestyle, SPAR, Pantaloons, Reliance Trends, Project Eve, Toys R Us & Max Fashions is already operational.
• The Projected annual lease revenue (excluding other income) of the mall upon completion and occupation will be around INR 62 Cr.

Key highlights:

• 3 level basement parking space for 1,000 cars and 1,100 two wheelers.
• Well located central atrium to enhance visibility for all stores with easy circulation patterns.
• Ramps and travellators providing direct access from the lower ground and ground floors the the car parks.

MALL LOCATION & CONNECTIVITY

• The project is located on Old Mahabalipuram Road (OMR) in Egattur, an established IT corridor in Chennai, diagonally opposite to SIPCOT IT Park.
• The six lane OMR, which is also the state highway 49A, offers excellent access to CBD (Anna Salai) and other major nodes in Chennai

Investment Highlight of the Proposed Platform

• Total Leasable Area - 539,873 Sq.Ft
• Total Area with LOI Signed - 491,284 Sq.Ft (91%)
• Estimated Lease Revenue at Stabilisation - INR 62 Cr per Annum
• Minimum Guarantee (MG) Lease Rent -  INR 82 per Sq.Ft
• Dec 2019 Rent Collection - INR 3.46 Crores and CAM collection INR 96 Lakhs

(The expected lease revenue at stabilization is based on MG or Revenue share whichever is higher)

Highlights :

1. LAND:-5 ACRE
2. BUILDING:-5.38 Lakhs SQFT
3. SHOPS:-120 No.
4. THEATRE :-5+1:-6  
5. RESTAURANT:-1
6. CAR PARKING, TWO WHEELAR PARKING:-1
7. MONTHLY RENTAL INCOME:-6CR.
8. SALES RATE RS:-800CR.
9. SALES FINAL FIXED RATE RS:-800 CR ONLY.