PROPERTY FEATURES
Asking price
€ 1.495.000
Rent P.A.
€ 135.000
Size
1,792 m2
Yield
9.0 %
SOLD

Spuistraat 104 102a, Vlissingen, The Netherlands

Property Description
For Sale
The town of Vlissingen, situated on the Westerschelde estuary, has the longest boulevard in the Netherlands. You can almost touch the passing ships here! Besides the beautiful beaches, which you can enjoy all year round, the city also has a lot of history. The maritime, cultural and coastal history is still very present here. Vlissingen falls under a so-called protected townscape and has some 300 monuments in the old town center. And the city has a lot of art in public spaces. Vlissingen is in full swing. There are various housing projects in preparation and/or implementation (the best known being the Scheldekwartier). Partly because of this, Vlissingen is rich in restaurants, stores and events. The best known and most popular shopping streets in Vlissingen are Lange Zelke, Scheldeplein, Walstraat, St Jacobstraat and Fonteyne. Directly adjacent to the Fonteyne / Lange Zelke is the investment property to be sold in good visibility. The center of Vlissingen is well provided with parking facilities with an underground parking garage directly in front of the location to be sold (parking De Fonteyne) and directly behind the location to be sold a public parking lot (Zeemanserve). 

After their completion in 1972, the Spuistraat 102a and 104 locations were fully occupied by the company GM Prins en Zoon (store in hardware, building and paint materials and garden supplies). Originally it was the intention to realize an additional floor for 2 residential apartments, but this was not done. According to the seller, the steel columns are suitable for this. Around 1994 the store was divided into 2 stores (102a and 104). Building 104 was completely rebuilt around 2001 into a so-called residential store of the housing corporation L' Escaut. After the departure of the home furnishing store, the upper floor was rented out to a temporary employment agency and the first floor is offered for rent. The building 102a has been internally rebuilt several times after the division of 104 and is currently leased to a so-called Polish supermarket. 

The total built-up area comprises approximately 1,792 m² GLA in 2 layers on a plot of land of 894 m². The current total (theoretical) market rent is approximately € 135,000 per year. 

Accessibility
The building is located in the heart of Vlissingen's city center. Vlissingen has a direct and fast connection to the A58 motorway, making accessibility by car and truck good. 

Accessibility by public transport is good, with a bus within walking distance. The Vlissingen train station is located outside the center of Vlissingen near the Buitenhaven. A bicycle and foot ferry connects Vlissingen with Zeeuws-Vlaanderen. 

The municipality of Vlissingen has about 44,565 inhabitants, spread over the districts of Vlissingen, Oost-Souburg and Ritthem. Vlissingen is located on Walcheren, on the coast at the entrance to the Westerschelde. To the north of the municipality lies Middelburg, almost adjacent to the core of Oost-Souburg. The municipalities of Middelburg (about 49,177 inhabitants) and Veere (about 21,850 inhabitants) are the other municipalities on Walcheren.

Destination
According to the current zoning plan "Binnenstad-Eiland" the location has the single destination "Mixed" with the double destination "Value-Archeology 1". The building area is equal to the current building limits and the maximum building height is 12 meters. The grounds designated for 'Mixed' are intended for:
a. services;
b. housing, including a home-based professional or business activity;
c. culture and entertainment
d. social facilities
e. offices
f. hotel and catering industry, categories 1a, 1b and 1c;
g. at the location of the indication 'hospitality category 2': also for a hospitality business, category 2;
h. at the location of the indication 'retail': also for retail trade;
i. grounds, gardens, green areas, traffic and parking facilities, loading and unloading facilities and other provisions, such as terraces with accompanying furniture, advertising signs, art objects and street furniture, belonging to the destination;
j. public utilities subordinate to the zoning.

In an environmental permit the competent authority may deviate from the zoning for the establishment of retail trade provided it has been demonstrated that the establishment of the relevant branch will not result in a deterioration of the concentration policy for retail trade in non-daily articles in the core shopping area.

The zoning plan was adopted by the Council of the Municipality of Vlissingen in its public meeting of 26 June 2012. In addition to the aforementioned zoning plan, the zoning plan "Paraplubestemminngsplan parkeernormering" and the preparatory decision "Hyperscale datacenters" also apply. 

Cadastral data
Municipality of Flushing
Section E
Number 2629
Size 8 are 94 centiare (894 m²).

The optical fence is the boundary of the property, if and insofar as the Land Registry may deviate.

Land status
Own land.
Environment
The basic assumption is that the soil will not be so contaminated at the time of sale that it will impede the continued use as business space of the current real estate. Given the location in the old center of Flushing, however, historical pollution is always possible. 

Seller is not aware of any underground tank(s) for the storage of liquids. 

The steel beams are covered with eternit sheeting (asbestos). Given the original construction year of 1972, however, more presence of asbestos cannot be ruled out. Seller is not aware of more asbestos than the above mentioned but can not guarantee an asbestos free building.

Year of construction
Originally 1972 and subsequently variously rebuilt over the years.

Dimensions - gross floor area (GFA)
Spuistraat 102 a:
First floor: 385.5 m²
1st floor: 385.5 m²
Total: 771,0 m²

Spuistraat 104:
First floor: 510.5 m²
1st floor: 510.5 m²
Total: 1,021.0 m²

Amenities (among others):
Roughcast:
- steel construction;
- Concrete floors;
- Flat wooden roof with steel beams and insulation with bituminous roof covering;
- Aluminum windows / frames with insulating glazing;
- brickwork facades.

Finishing:
Various light partition walls / glass walls and fire resistant wall between building 102a and 104;  
Awning;
Various (pedestrian) doors in facades;
Various sanitary facilities including miva;
Various pantry facilities;
Various consulting rooms, offices and archive/storage rooms;
Partially lowered system ceilings;

Installations:
Central heating system with radiators (104 built in 2002 and 102a built in 1990);
Elevator installation (passenger elevator on 104);
Goods elevator (102a, not in use);
Lighting (partly LED);
Each address has its own utility connections whereby at 104 the electricity consumption is registered floor by floor via an intermediate meter. Water and gas consumption is not measured separately at 104.
Fire extinguishing facilities;
Mechanical ventilation / air conditioning (inlet / outlet air);
Air conditioning;
Wall sockets;
Alarm system;
Escape route markings.

Lease agreement:
Spuistraat 102a: 
This lease agreement was originally entered into with Mr. H. Ibrahim and Mr. M. Geder Zada. The lease includes a clause that once the company Krowka Polski Sklep is established it will take its place as the tenant. Krowka Polski Sklep has had a new owner since December 1, 2021. The initial lease period was 2 years, starting on March 1, 2018 and running until February 28, 2020. Subsequently, the lease was continued for a consecutive period of 3 years, i.e. until February 28, 2023. As no notice of termination of the lease has been given (notice period 12 months), the lease currently continues until 28 February 2028 and subsequently for consecutive periods of 5 years each. The current rent is approximately € 33,292 per year excluding VAT. The rent is indexed annually as per 1 March. The tenant has paid a deposit of € 9.075,-. 

Spuistraat 104 first floor:
This is empty and can be rented. The selling broker sees good opportunities in partial letting whereby a theoretical rent of approximately € 110,- / € 115,- per m² on an annual basis seems financially realistic. This means a theoretical annual rental income of approximately € 55,000 / € 57,500.

Spuistraat 104 1st floor:
This lease was originally entered into with Artec Interim BV. Artec Interim BV was acquired by Maintec BV around June 2017. The first lease period was 5 years, starting on February 1, 2016 and running until January 31, 2021. Subsequently, the lease was continued for a consecutive period of 5 years, therefore until January 31, 2026 and subsequently for consecutive periods of 5 years each. The current rent is approximately € 44,905 per year excluding VAT. The rent is indexed annually as per February 1. The tenant has paid a deposit of € 8,066.66. During the term of the lease, the tenant has a 1st right of refusal with regard to the office space on the first floor. After the offer by the landlord, the tenant must inform the landlord in writing within 2 weeks whether he will make use of the rental proposal, after which the offer will definitely expire / the 1st right of refusal will definitely expire and will not be revived.

Energy label
Spuistraat 102a: label A, valid until 28 March 2028.
Spuistraat 104: label A, valid up to and including February 18, 2032.

Asking price
€ 1.495.000,- k.k.

Security deposit: 
10% of the purchase price to be paid into the account of the notary within 14 days after signing the purchase agreement. 

Delivery
In further consultation to agree.

Details 
Sale is subject to final owner approval.
Special provisions may be attached to each property. These will be imposed on each succeeding owner. The seller reserves the right to include easements and special provisions if this is necessary in connection with the real estate to be sold and/or directly related matters, or imposed by the municipality, fire department, water board and/or other authorities or bodies. The last deed of delivery dated October 31, 2002 is available upon request.
The information provided is intended to inform the buyer as accurately as possible while complying with the seller's duty of disclosure. On the basis of the Dutch Civil Code, the purchaser has a duty to investigate.

Synchro Bedrijfshuisvesting BV acts exclusively as advisor to the seller in this sale. The buyer does not owe any costs or commission. 

General
For detailed information regarding this investment we kindly request you to contact Synchro Bedrijfshuisvesting BV, 088-796 24 76.

All of the above information relates to the sale of "Spuistraat 102a and 104" in Vlissingen. The information has been compiled with care, but Synchro Bedrijfshuisvesting BV cannot accept any liability for its accuracy, nor can any rights be derived from the data stated. It has been expressly stated that this information may not be regarded as an offer or quotation.

Map
Spuistraat 104 102a
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