There is an opportunity to purchase 96,950 sf in Mindspace Business Park, Hyderabad tenanted to US-based Qualcomm for an all-in cost of Rs. 1,00,50,00,000 (Rs. 9,554 per sf) implying a 9.5% yield and 19.26% IRR for pre-book investors.
Mindspace Business Park is the largest Grade A business park in Hyderabad spread across 97 acres (10.6 million sf of leasable area) and c. 98% leased to marquee tenants like Accenture, Qualcomm, BA Continuum, JP Morgan, Facebook, Amazon, among others.
Qualcomm is a key tenant in Mindspace and occupies c. 1 mn sf (c. 9% of Mindspace)
We believe this is a unique opportunity to acquire a leased Grade A asset in Hyderabad’s largest and fastest growing micro-market.
Floor plan is typical of Grade A business parks with large efficient floor plates, a central lift core and services on the side.