Indochina Riverside Towers

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Overview

Land area: 
3,560 sqm
Unit area: 
0 sqm
GFA: 
30,970 sqm
NLA: 
0 sqm
Hits: 
239
General Information
· Seller: Indochina Group
· Buyer: Kajima Corporation
· Street no: 74 · Street: Bach Dang · Ward: Hai Chau 1 · District: Quận Hải Châu · City: Da Nang
· Project (GFA): 30,970 sqm

All areas are approximate and as reported.

Property Notes

General description:

The original investor was Indochina Land Riverside Tower Ltd (Indochina Capital). The project is located on Bach Dang Stret with the river opposite. The development comprises apartments, offices and retail mall. 

The invested capital was US$25,000,000 and  Indochina Riverside Towers (IRT) was operational from 17 June 2008. The complex is 2 blocks with total of 29 floors and basement under and the retail mall is over 4 floors. IRT was considered the 1st international standard mixed-use office, retail and residential complex in Da Nang.

The total GFA is over 32,000 sqm. Indochina Riverside Towers has a 3,534 sqm basement (56 car parking spaces and motorbike parking). The retail area is about 6,564 sqm (ground, first and second floor). Facilities on the 3rd floor comprise swimming pool, fitness centre and a function area. The residential tower is about 12,472 sqm over 24 levels. The complex has views over the CBD and the Han River. The office area is about 8,532 sqm over 10 levels with an average of about 830 sqm per floor (footprint). 

Legal/ developer overview:

39 Years Remaining on Land Lease at Date of Sale Q2 2016.

Merger & acquisition &/or sale:

The seller and buyer was reported to be Indochina Land and Kajima Corporation. The transaction occurred in Q2 2016. Refer to subscription data for more details.  

Marketing, leasing or asking price:

Q1/2018, the office sector occupancy rate is reported at 100% while the average monthly asking rent around US$18/ sqm including service charges but excluding VAT. The retail podium occupancy rate is 100% while the average monthly asking rent is about US$23/ sqm inclusive of service charges but excluding VAT.

In the beginning Q4 2019 the average monthly asking office rent is reported to be about US$22 per sqm per month excluding service charges and VAT.

The average monthly asking Apartment rent is reported to be about US$7 per sqm per month excluding service charges and VAT.

Sale & evidence history

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General amenities

  • Airport
  • Beach
  • Bus station
  • Entertainment centre
  • Hospital
  • Local People's Committee
  • Modern retail complex
  • Museum
  • Parkland
  • School
  • Sporting complex
  • Supermarket/Minimart
  • Traditional market
  • University

Facilities

  • Food Court
  • Gymnasium
  • Library
  • Lifts
  • Playground
  • Pool/s
  • Sauna
  • Spa
  • Steam room
  • Tennis court
  • Yoga
  • Maintenance facility
  • Putting green
  • Cafe
  • Restaurant

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