Morgan Leahy property investment group

Investment Summary

Total properly cost is €13.26m of which €10.06m is provided by a nonrecourse loan and the remaining €3.2m by investor equity.

• Total Office Accommodation: 1177.2m sq
  • One Apartment - Accommodation: 182.3m sq
  • Office accommodation - single occupant: Gibson Dunn & Crutcher
• Rental Lease Expires: July 2014 (tenant break option at year 6)
• Rental Income:
  • Office: €652,850 per annum
  • Apartment: €96,956 per annum
• Location: in the heart of Paris in the prestigious 8th District

Property Details

166 Rue du Faubourg, Saint Honoré

• Gibson Dunn have renewed lease for a further 6/9 years to July 2014
• Gibson Dunn occupy second, third and fourth floors together with a luxury apartment
• Each office floor and apartment are on separate leases
• Apartments in this building are currently selling at €7,000 p.s.m which would give a current value of c. €1.26m.
• The apartment presents an opportunity to release some equity in 6 years if Gibson Dunn decide not to renew their lease on the apartment.
• Building is within the prime central business district and close to Rue Hausmann and the Champs Elysées

 

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