Projects
The current passing rent is £7.30 per sq ft on average versus a £10.90 per sq ft estimated rental value (ERV).
This deal marks Blackbrook’s first investment in Germany, and the eighth market the firm has entered since its launch in 2020.
The property consists of three ground-floor processing units with an area of 3300 sq.m. and an office and showroom floor of 850 sq.m.
The Inditex group leases a store with a total area of 5,850 sq.m from the Ground Floor up to the 2nd floor for the ZARA and ZARA Home brands.
It should be noted that this is the second 5-star resort of Brown Hotels in Greece - after Isla Brown Corinthia which started its operation last year in the Spring.