Property Share, a tech platform for commercial real estate investments, has launched its India warehousing asset on the platform—a 9.1 per cent yielding Grade A+ warehouse in Jaipur tenanted to Flipkart, totalling Rs. 191 crore.
The asset comprises 3 boxes totalling 528,631 sf, of which box 1 (373,535 sf) is leased for 9 years with a 5-year lock-in (3.6 years remaining) and boxes 2 and 3 (155,096 sf) have been signed for 9 years with a 6-year lock-in. The rent increases by 12.5 per cent every 3 years, reads the company statement.
The warehouse is a high-end Grade A+ development built to suit Flipkart’s requirements, including state-of-the-art racking systems, turnstiles, an office, a training center, a cafeteria, and CCTV systems.
Commenting on the opportunity, Mr. Kunal Moktan, Co-Founder & CEO, Property Share, said, “In some sense, the warehousing market in India today is like the office market in the early 2000s, both in terms of demand and quality. The industry is likely to witness high growth both in terms of rent and capital values as quality and demand are driven by international players like Amazon, Walmart, and Flipkart.”
Founded by Kunal Moktan and Hashim Khan, Property Share allows sophisticated investors access to institutional-grade assets with 8–10 per cent in-place rental yields and 17-20 per cent returns, as per a company statement.
