⏰ The project starts on 14/02/2024 12h30 💰 The estimated rate of return is 8.25% per year.
⏱ The duration of the project is ∞ 💼 Minimum amount to invest is 100€
🤖 Review's summary
Analysis of the Bordeaux Saint-Serin Project at Tantiem analyzed by Sébastien HO-YU-HIN
The project is scheduled to take place on February 14, 2024, at 12:30:00. Overall, it has a decent mortgage coverage with a tenant who has a good reputation.
Type of project: Rental Investment
Amount to finance: 828,300 EUR
Distribution: Capital: In fine, Coupons: Quarterly
1 commercial space: 214 m², occupied by a local supermarket, Monoprix
Minimum investment: 100 euros
Duration: Infinite
Property type: Commercial real estate
✅ Strengths:
Rental yield: 8.25% - Higher than the average yield (7.55%) of recent projects at Tantiem.
Guarantee type: Special legal mortgage of the recent lender.
Mortgage coverage: 87% - Adequate
Acquisition price of 720k, which is lower than the estimated capitalization price of 830k - Good
Condition: New. No need for renovations as the space was refurbished in 2023.
Location: Centrally located in Bordeaux. Mixed residential and commercial district. Close to various food shops.
Quality of tenant: Monoprix has a reputable brand image.
3/6/9 lease running until 2032 - Provides a good visibility for the next 8 years with the tenant committed to paying rent.
Franchisee with prior experience as an employee of Monoprix.
⚠️ Warnings:
Rental yield of 8.25% is considered low.
No rent payment for the first 3 months, with the first payment expected to be in May 2024.
Residential real estate market in the neighborhood has decreased by 10.8% in the past year according to Meilleursagents.
No information on the financial strength of the tenant. Assumption that the franchisee just created their company.
Competition from several food shops within a 2 km radius.
Overall, the Bordeaux Saint-Serin project at Tantiem seems like a decent investment. The mortgage coverage is good, and the tenant, Monoprix, has a strong reputation. However, there are some concerns such as the lower rental yield and the initial 3-month period without rent payment. Additionally, the decrease in the residential real estate market and the presence of competition should be considered. Nevertheless, with its attractive location and the lease running until 2032, the project offers good visibility and potential stability in the long term. It's an opportunity worth exploring for those interested in commercial real estate investments.
Historial rates of return Tantiem
Investor votes results for the project: Bordeaux Saint-Serin
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