Property Share, a leading tech platform facilitating commercial real estate investments, has unveiled its inaugural India warehousing asset on its platform and aims to raise ₹192 crore from it.
The featured asset, a Grade A warehouse situated in Jaipur on Ajmer Road, stands leased to Flipkart.
The warehouse encompasses three distinct sections totaling 528,631 square feet. Notably, box 1, spanning 373,535 square feet, is leased for nine years with a 5-year lock-in period, while boxes 2 & 3, comprising 155,096 square feet, have been secured for nine years with a 6-year lock-in period. Rent escalations of 12.5 per cent are scheduled every 3 years.
Characterized as a top-tier facility, the warehouse is tailored to suit Flipkart’s specifications, featuring state-of-the-art racking systems, turnstiles, an office, a training centre, a cafeteria, and closed-circuit cameras. It serves as Flipkart’s largest distribution and fulfilment centre in the western region, managing a staggering 2 lakh orders per day.
Jaipur, along with the National Capital Region and Surat, collectively accounts for over 40 per cent of e-commerce suppliers. With 7 in 10 online shoppers residing in Tier 2 cities, the demand for Grade A warehousing assets in cities like Jaipur, Lucknow, Kolkata, Nagpur, and Ludhiana is on the rise. India currently possesses only 40 per cent Grade A warehousing stock, compelling many third-party logistics tenants to resort to inferior alternatives due to a scarcity of supply. In 2023, Tier 2 & 3 cities combined contributed to 63% of the e-commerce market share in India.
Kunal Moktan, Co-Founder and CEO of Property Share, remarked on the potential presented by this development, stating, “As ecommerce penetration in India approaches levels similar to China, we anticipate robust growth in the Grade A warehousing market. The industry is poised for significant expansion in terms of both rent and capital values, driven by the quality and demand catalyzed by international players such as Amazon and Walmart-Flipkart.”
Property Share provides sophisticated investors with access to institutional-grade assets boasting 8-10 per cent in-place rental yields and 17-20 per cent returns. The platform assumes full responsibility for sourcing, due diligence, property management, and sale on behalf of users, streamlining the process of owning, managing, and divesting commercial real estate assets.
———
If you are a proptech company and want to promote your products for free, go to proptechbuzz.com and submit your products. For investors or proptech buyers, sign up on our platform to stay informed about exciting updates and trends in the Proptech Ecosystem.
Explore more Proptech news at media.proptechbuzz.com, for news tips and promotions, reach out to marketing@proptechbuzz.com .
By Proptechbuzz
By Ravi Kumar
