hBits ACKRUTI CENTRE POINT

Overview

An ideal opportunity to invest in a Grade A+ asset located at Ackruti Centre Point, Andheri. The asset is located on the 6th and 7th floor of the building and is let out to ICICI bank and IIFL Securities (IIFL). Both ICICI bank and IIFL are Grade A tenants with long leases and lock-in. ICICI bank is one of the ‘Big Four’ banks of India while IIFL is one of the leading financial services company in India.

The asset is located in Andheri which is an evergreen real estate market primarily known for its proximity to the International and Domestic Airports and for the MIDC, SEEPZ, IT hubs and commercial spaces. It is home to many known global brands and corporate offices and has excellent connectivity from both Central and Harbour railway lines. It is a very attractive investment opportunity given the asset and tenant quality, long lease and location advantage. It gives further advantage of diversification due to the two prime tenants occupying the space.

Location

An evergreen investment destination, Andheri, houses many commercial spaces, including media houses, IT/ITeS, consulting, pharmaceutical companies and logistic offices. It is one of the largest areas of Mumbai and is well-connected to the other parts of the city via rail, bus, metro facilitating access to other commercial hubs. Ackruti Centre Point is located in Andheri’s MIDC main road. The nearest metro station, Chakala, is just within a km from the building.

• Airport

  • Mumbai Domestic Airport

    4.9 Kms

  • Mumbai International Airport

    3.3 Kms

• Railway Station

  • Chakala Metro Station(line 1)

    900 M

  • MIDC Metro Station(line 3)

    1 Kms

  • Andheri Railway Station

    2.9 Kms

Tenant Overview

Formed in 1994, ICICI bank is a leading private sector bank in India, offering a wide range of banking products and financial services to corporate and retail customers. It has 5,324 branches and 15,661 ATMs across India. The bank has 1 lakh+ employees and a brand presence in 17 countries. ICICI Bank is the only bank to have received an A+ rating for its sustainable practices and robust environment, social and governance framework.

IIFL is one of the leading players in the Indian financial services, founded in 1995. It has net-worth of over INR 45 bn and global presence in Canada, United States, UK, Singapore, Hong Kong, Switzerland, Mauritius, and UAE.

Lease Structure

ICICI lease starts in Feb 2021 and ends in Feb 2030, with a 3-year lock-in period and 9 year Lease. IIFL lease starts in March 2021 and ends in March 2026, with a 5-year lock-in period and 5 year Lease