OPPORTUNITY TO ACQUIRE A PRIME COMMERCIAL ASSET
THE IL&FS FINANCIAL CENTER
BANDRA KURLA COMPLEX, MUMBAI TABLE OF CONTENTS
01 OPPORTUNITY BRIEF
02 ABOUT PROPERTY
03 MICROMARKET OVERVIEW OPPORTUNITY BRIEF
01 OPPORTUNITY BRIEF • Opportunity to acquire a prime income generating standalone commercial building – The IL&FS Financial Center (TIFC), located in Bandra Kurla Complex (BKC), Mumbai’s Central Business District
• TIFC is a state of the art building with a BUA of ~322,268 sq.ft, of which ~ 300,624 sq.ft is owned by Infrastructure Leasing and Financial Services Limited (IL&FS). The part owned by IL&FS is available for sale on an as is where is basis
• The building sits on a land admeasuring 12,550* sq.meter, and has a basement + stilt + 10 upper floors configuration
• Located in the heart of Mumbai, BKC has been established as one of the top Global Commercial Business District with home to about 500+ prominent MNC & Indian Corporate occupiers across every sector
• The micromarket is characterised by strong demand with limited new supply
• CBRE South Asia Private Limited (CBRE) has been exclusively appointed as the transaction advisor for divestment of the property
* Land area as per Agreement to Lease (1994) is 15,000 sq.meter; land area under possession is 12,550 sq.meter; FSI basis 15,000 sq.meter of land ABOUT PROPERTY
02 LOCATION – BANDRA KURLA COMPLEX
TOWARDS GOREGAON CHHATRAPATI SHIVAJI INTERNATIONAL AIRPORT 5 KM
BANDRA STATION
KURLA WESTERN EXPRESS HIGHWAYEXPRESS WESTERN STATION
MUMBAI Strategically located in the center of Mumbai – BKC enjoys excellent road and rail connectivity from both Central and Western suburbs, as well as from Thane and Navi Mumbai PROPERTY DETAILS The IL&FS Financial Centre (Building Exterior) Location Plot no. C 22, G Block, Bandra Kurla Complex, Mumbai
• Agreement to Lease between MMRDA and IL&FS (1994) Land ownership • Lease tenure of 80 years
Construction 2000 Completion year
Architect Hafeez Contractor
Constructed by Shapoorji Pallonji & L&T
Building Configuration Basement + Stilt + 10 upper floors
• 322,268 sq.ft (Full building) Built Up Area • ~ 300,624 sq.ft (owned by IL&FS)
Car parks 435
*Occupancy (%) ~ 81%
Major Occupiers Carlyle Group, PayPal, IDFC, IBM, Avendus Capital, IL&FS
* Includes area occupied by IL&FS for self use and area occupied by IL&FS Group companies as of 30th Sept, 2020 BUILDING AMENITIES
Liquor Lounge Cafeteria Common Amenities:
1. Liquor Lounge 2. Gymnasium ( along with a yoga room & steam bath) Gymnasium Tea/Coffee Lounge 3. Cafeteria 4. Training room with facility (capacity 75+ pax) 5. Library 6. Opti – Golf Opti Golf Library Training Room 7. Tea/ Coffee Lounge 8. Smoking Area 9. Atrium and sitting area BUILDING AREA DETAILS
Area Details Approx. Built Up Area (Sq.ft)
Total BuA 3,22,268
Area sold to HDFC 21,644
Remaining BuA (available for sale) 3,00,624
• Area occupied by IL&FS Group Companies ~15%
• Area Occupied by other Tenants ~ 54%
• Area for IL&FS self use ~ 12%
• Vacant Area ~19% BUILT UP AREA - FLOOR WISE
Floor Approx. Built Up Area (Sq.ft) Stilt 5587.24
First Floor 44378.65
Second Floor 29305.72
Third Floor 34912.33
Fourth Floor 40703.36
Fifth Floor 41236.52
Sixth Floor 37719.93
Seventh Floor 24401.85
Eighth Floor 27894.55
Ninth Floor 21361.29
Tenth Floor 14766.59 MARKET OVERVIEW
03 WHY BKC
NEWEST & FASTEST GROWING CBD OF INDIA Located in the heart of Mumbai, with excellent connectivity
HOME TO MOST PROMINENT OCCUPIERS Presence of Financial Institutions, Large Indian & Multinational Corporates & Public Sector Undertakings. A preferred destination among occupiers across sectors
UPCOMING METRO CONNECTIVITY Two metro lines with upto 4 stations at BKC will further enhance connectivity & access to this micro market
UPCOMING ELEVATED ROAD CORRIDORS Will provide direct access to and from BKC from the major Arterial roads
LARGEST CONVENTION CENTER The Dhirubhai Ambani International Convention and Exhibition Center(DAICEC) is slated to be one of the world's largest and most attractive convention centers
SMART CITY INITIATIVE Will enable Electric Buses, Smart Parking, Smart Lighting, Wi-Fi & advanced CCTV network in the region BKC INFRASTRUCTURE
METRO CONNECTIVITY (UPCOMING) • Two metro lines will serve BKC ➢ Line 2B (DN Nagar to Mandale), will have 2 to 3 stations at BKC ➢ Line 3 (Colaba to SEEPZ), will have an underground station at BKC • Direct connectivity to Airport via Line 3 • Metro to be operational by 2021
ELEVATED ROAD CORRIDORS
Three elevated corridors at different high vehicle density points: • From BKC to Bandra-Worli Sea Link (upcoming) • From MTNL exchange in BKC directly towards LBS Marg (upcoming) • BKC to Chunabhatti Connector (recently inaugurated)
SCHOOLS KEY COMMERCIAL CONVENTION & FINANCIAL PREMIUM HOTELS RETAIL DEVELOPMENTS CENTERS 1. Arya Vidya Mandir 1.Maker retail mall 1. One BKC 1. Trident 2. Mt. Litera 1. DAICEC (upcoming) 2. Godrej BKC 2. Sofitel 3. Dhirubhai Ambani (convention center) 2. DAICEC mall 3. The capital International School (upcoming) 4. FIFC 4. American School 5. Maker Maxity BKC MARKET OVERVIEW Office Supply & Vacancy Rates 15 New Supply Existing Stock Micro Market Vacancy50% 45% ✓ Favorable market condition with limited supply and 1.80 40% 0.00 strong demand 10 35% 1.2 0.1 30% ✓ Significant absorption with in last 3 years - 0.6 25% 0 sustained demand across prominent developments 21% 22% 23.0% 20.00% 20% 5 22% 19%
( million sq.ft) ( million 15% Vacancy % Vacancy
StockSupply & ✓ Financial Institutions and MNCs continue to shift to 10% 7.1 7.7 8.9 9 10.8 10.8 5% BKC from the erstwhile CBD in South Mumbai - 0 0% 2014 2015 2016 2017 2018 2019 BKC will continue to be preferred destination for Office Absorption & Rental Trend corporate offices 1.5 300 Absorption Rent ✓ The micromarket has been witnessing large 280 transactions in co working/ business center segment 270 1.0 260 ✓ ~ 240,000 sq.ft of relevant ongoing demand for
250 250 250 250 250 BKC 1.30 240
0.5 0.98
Absorption (million sq.ft) (million
0.61 0.63 220 (INR Rent pm)psf 0.36 0.43 0.0 200 2014 2015 2016 2017 2018 2019 BKC MARKET OVERVIEW
Recent lease transactions from H1 2020
Rent (INR per psf S.No Occupier Area in Sq.ft Building Year per month) 1 Cisco 42,600 One BKC 276 Q1 2020 2 Awfis 17,000 Adani Aspire 213 Q1 2020 5 IDFC First Bank 15,700 Crescenzo 193 Q1 2020 6 Servcorp 14,945 Vibgyor 250 Q1 2020 7 Carlyle India Advisors 14,222 Godrej BKC 270 Q1 2020 8 Thomson Reuters 9,600 One BKC 205 Q1 2020 9 Roland Berger Pvt. Ltd. 2,122 One BKC 219 Q1 2020 10 Australian Consulate* 20,000 Cresenzo 280 Q2 2020 11 Swift Capital* 13,000 Capital 260 Q2 2020 12 News 24 broadcast 2700 One BKC 227 Q2 2020 13 Nevakar India 1600 One BKC 250 Q2 2020
*Renewal transactions BKC MARKET OVERVIEW
Recent sale transactions
Approx. Capital Value S.No Building Approx. Area in Sq.ft Buyer (INR per psf)
1 Citi Group Center 1,15,000 K Raheja Corp. 35,000
2 One BKC 7,00,000 Blackstone 35,000
3 One BKC (B &C Wing) 1,327 Dudani Exports 33,000
4 Godrej BKC 49,300 Investor 34,500
5 The Capital 1,000 Investor 33,000
6 Godrej BKC 1,69,843 Brookfield 29,000 ANNEXURES BUILDING FEATURES
Parking - Stilt floor (249 cars & 63 two wheelers) - Basement (186 cars & 50 two wheelers) Utility Fire Hydrant & Sprinkler system • Fire hydrant has 2 pumps of 55Kw each and booster pump of 5.5 Kw • Sprinkler hydrant has 2 pumps of 15Kw each and booster pump of 5.5 Kw • 100% DG back up for both HVAC • 4 screw chillers each of 360 Tr. • 2 secondary chilled water pumps of 55 Kw • 4 primary pumps of 11.2 Kw • 4 condenser pumps each of 37.3 Kw • 4 air handling units per floor from the Atrium to 10th floor Electrical Power • 2 feeder of 11 KV supply from different sub stations along with 3 transformers • 2 DG of 1500 & 1250 KVA Others • STP : 100 KL capacity per day • WTP: 100 KL capacity per day • 11 passenger elevators (OTIS) – 3 high speed elevators used for 7th to 9th floor • 2 freight elevators THANK YOU
For more information, please contact:
Prashant Gooty +91 9930787191 [email protected]
Madhusmita Dutta +91 8886458348 [email protected] DISCLAIMER- CBRE
This teaser has been prepared by CBRE South Asia Pvt. Ltd. (CBRE/Consultant) on behalf of Infrastructure Leasing & Financial Services Limited (“IL&FS Group”) and is furnished to you, solely to assist you in your evaluation of a potential transaction. It is not to be used for any other purpose or made available to any other persons without prior written consent of CBRE. We have obtained all information in this document from sources we believe to be reliable; however, we make no warranty or representation nor assume any legal liability or responsibility for the accuracy, correctness, completeness or use of any such information. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. Prospective purchasers are advised to carry out their own investigations. The content of this document should not be construed as legal, business or tax advice and you should take specific advice from qualified professionals before undertaking any action following information contained herein. Photos herein are the property of their respective owners and use of these images without the express written consent of the owner is prohibited. Whilst the information contained in this teaser has been prepared in good faith, with due care and on a reasonable effort basis, recipients are advised to make their own enquiries and satisfy themselves as to the accuracy, completeness or otherwise of all aspects of the information. The information contained in this teaser may be subject to errors, omissions, changes or withdrawal without notice and does not constitute a recommendation or endorsement of any kind. While we do not doubt statistics contained herein, however neither CBRE nor any other person has verified it and make no guarantee, warranty or representation about it. It is the recipient’s responsibility to independently confirm its accuracy and completeness. This document and any subsequent information provided is intended to act as a guide only does not purport to contain all information that you may require. In making any decision, the recipient should conduct its own investigation and analyses of information contained in this document and rely on its own examination of the aspects of the purchase. Recipient should not construe any of the contents herein as advice relating to business, financial, legal, taxation, or investment matters and are advised to consult their own business, financial, legal, taxation and other advisors concerning the purchase. Neither CBRE nor IL&FS Group (including their directors, affiliates and employees) shall have any liability towards any claims from the recipients or from any other person whatsoever for any economic loss or any damages suffered arising out of or in connection with the information provided in this teaser or related documents due to whatsoever reasons and howsoever the loss or damage is caused. DISCLAIMER- IL&FS GROUP
Neither the issue of this teaser nor any part of its contents are to be taken as any form of commitment on the part of CBRE South Asia Pvt. Ltd. (CBRE) and Infrastructure Leasing & Financial Services Limited or any of its subsidiaries, joint venture or associate companies (collectively referred to as “IL&FS Group”), to proceed with any transaction which maybe envisaged by the issue of this teaser. CBRE and the IL&FS Group reserve the right in their absolute discretion at any time and in any respect, without any liability on their part and/or their respective affiliates or representatives, to amend, suspend or terminate the process or to terminate any discussions and negotiations with any prospective purchaser at any time and without giving any reason and to proceed in any manner in relation to the opportunity/potential transaction. While the information disclosed has been prepared by CBRE in good faith, there is no implicit or explicit representation as to the accuracy of the information and no responsibility or liability for any loss, cost, expense, damage or otherwise is accepted, and any and all responsibility and liability is expressly disclaimed, by CBRE, the IL&FS Group and their respective shareholders, affiliates, directors, officers, agents, advisers and employees for any errors, misstatements, misrepresentations or omissions in any document or information supplied at any time to the recipient or its advisers in the course of the recipient's evaluation of a potential transaction, if any. In no circumstances will CBRE, the IL&FS Group and their respective shareholders or affiliates, be responsible for any costs or expenses incurred by prospective purchasers in connection with any appraisal or investigation in relation to the opportunity/potential transaction and you acknowledge that you will bear all of your own such costs and expenses. This teaser does not purport to be comprehensive nor does it constitute or form part of any offer to sell, or the basis of any contract which maybe concluded for the sale of the Office space. Consummation of any transaction will be subject to all requisite approvals, including, the approval of the relevant board of directors, approvals required under applicable law and approval of the National Company Law Tribunal. This teaser is private and confidential and must not be copied, reproduced, distributed or passed (in whole or in part) to any other person or used for any other purpose, at any time without the prior written consent of Infrastructure Leasing & Financial Services Limited