Bestech Business Tower
A group of investors, having tasted success in the Gurgaon's Commercial real estate market, were scouting for a lucrative investment proposition in Gurgaon in 2013. They had options to buy a commercial plot or a pre-leased asset, but the desired return was not being achieved. RRPL suggested a different investment strategy which caught everyone's attention and turned into a succeed deal.Project Details
• Property : Bestech Business Tower, Sohna Road, Gurgaon
• Transaction Size : 80,000 sq.ft.
• Transaction Type : Investment Strategy and Implementation
Given the background of RRPL with the core strength being in Commercial Leasing, the investors were advised to carefully study the trend most of the corporate houses, had taken in the recent times. After providing the investors with comparative rental analysis and recent market trends, they were convinced that the next location to experience commercial boom was the Sohna Road. This was one of the most promising locations, given its exceptional infrastructure, ample residential complexes and the lack of gap between the prices of residential and commercial/ IT properties made it a sweet spot for investors to enter this location.Transformation
After studying the proposed return on investment scheme, the investors were proposed an entire floor in Bestech Business Tower, Sohna Road. The building houses tenants like XL India, Convergys, ACS (A Xerox Company), Salient etc. and is strategically located at the intersection of Golf Course Extension Road & Sohna Road. The following was the motive behind this preposition:
1. The Single Largest Floor Plate in Gurgaon
(a). After Convergys took up 250,000 sqft on lease in Bestech Business Tower and other IT parks were getting occupied at a good pace, buying a vacant floor plate of 80,000 sqft gave a massive advantage to the investors.
2. High Leasibility & Return
(a). The rate at which pre-leased IT properties were being sold was 35% - 40% higher than the vacant rate in the location.
(b). This gave investors an edge and a cushion to make high profit once the property gets leased.
(c). The projected return was higher than the regular pre-leased options available in the market.
As a result, RRPL negotiated the entire floor from the sellers at a lucrative rate, got the legal DDR for the executed area and ensured that all the payments and paperwork gets executed in the most professional manner, making the transaction a breeze for the seller as well as the investors.