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Retail Park Development - €27.5m Invest.

€27.5m Investment Opportunity
Purchase 75% of Retail Park Development
Location
Torun, Poland
Torun is Poland’s 12th largest City – Population 207,000
Site is 4km west of Town Centre and close to airports
Located on national and international motorways
New 16,000 seater Sports Stadium that Torun City are currently building adjacent to the site. New bridge also planned.
Torun in a major logistics hub in Poland
Large number of international companies are active in Torun, €500m Japanese and Korean investment has created 10,000 jobs
Asset
*55,000 sq m Retail Park on an 18 hectare site Shopping Mall of 23,208 sq m:
*Carrefour Head of Terms signed as anchor for 8,500 sq m Hypermarket – C&A interested.
*DIY store of 9,000 sq m – Castorama or Obi
*Sports Store of 5,000 sq m – Decathlon interested
1,500 car parking spaces

Site is zoned A Commercial under City Master Plan
Current vacancy rates between 0 – 2%
Construction to start after a 9 month design and letting phase. Construction Phase to completion 18 Months
Costs going forward to completion €85m.
Equity requirement €27.5m

Opportunity
To acquire 75% interest in the project now, developer / investor flexible on terms of exit.
Equity investment requirement of €27.5m.
€11.5m initial amount for the purchase and design stage and a further €16m at the construction stage.
Owener 25% plus 5% Management fee (included in the costs), Investors 75%

Projected Investor Returns
€11.8m profit share on top of original €27.5m investment based on future value of €100.7m at a 7.5% yield and costs of €85m
28% IRR
43% ROI
Target Return in Three Years

Variables
All figures in euro
All leases are denominated in euro
Yield is calculated based on fixed rents and estimated turn