Pre-leased office units
Offices already let, sold with the lease in place. Income from day one, with the return driven entirely by the quality of the lease and the tenant.
Commercial property consultants across Pune & PCMC
Commercial property investment
A pre-leased asset is only as good as its lease deed, its tenant and its title. BigSpace sources pre-rented offices, retail units and bank-tenanted properties across Pune — and we read the lease before we discuss the yield, because that is where the risk actually sits.
Occupiers we work with
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Commercial investment advisory
Two pre-leased units can advertise identical yields and be entirely different investments. One has a bank on a nine-year lease with three years of lock-in remaining and a 15% triennial escalation. The other has a two-year-old startup with six months left and no renewal obligation. The rental figure is the same; the risk is not remotely comparable.
We work the diligence in the order that matters: the lease deed and its remaining lock-in, the tenant's covenant strength, the escalation schedule, the title chain and encumbrance position, the occupancy certificate and approvals, and only then the price and the resulting yield. We also source owner-direct and builder-direct opportunities, distress and auction situations, and sub-lease arrangements — each of which carries its own specific diligence.
Why BigSpace
Investment formats
Each route carries a different risk profile and a genuinely different diligence checklist.
Offices already let, sold with the lease in place. Income from day one, with the return driven entirely by the quality of the lease and the tenant.
Retail units and branch premises let to institutional tenants on long tenure — the most sought-after pre-leased category in Pune.
Offices, shops and showrooms bought to occupy rather than to let, where the diligence focus shifts to fit-out and permitted use.
Properties offered directly by the owner or the developer, where the saving is real but the diligence burden sits entirely with you.
Bank-foreclosed and distressed assets, where the discount is genuine and so is the risk of encumbrances, disputes and possession problems.
Taking over an existing lease from a sitting tenant, subject to the assignment clause and the landlord's written consent.
Indirect routes into commercial real estate for investors who want the asset class without the management burden or the ticket size.
Sheds and logistics property, where tenant covenant and specification obsolescence drive long-run value more than location alone.
Micro-markets
Rent, availability and building quality vary sharply between micro-markets. These are the corridors our desk covers daily.
Configurations
Tell us the size band and we work backwards to carpet area, frontage, power and the buildings that can genuinely deliver it.
Technical due diligence
This is the difference between a listing and a usable property. Every point below is checked on site, not taken from a brochure.
Remaining term, lock-in, escalation schedule, renewal rights and exit clauses. This document is the asset — read it before the yield is quoted.
Who is actually on the lease, their financial standing, and whether the entity signing is the parent or a thin subsidiary.
Ownership history, encumbrance certificate and Index 2, verified before any token amount changes hands.
OC, fire NOC and PMC or PCMC approval status. A property without OC carries a real and sometimes permanent problem.
How much deposit is held, and whether the obligation to return it transfers to you on purchase. It frequently does.
Which charges the tenant bears and which fall to the owner. This is the gap between gross and net yield, and it is often significant.
Payable on purchase and a material part of your entry cost. Model it into the return before you commit, not after.
A 15% triennial escalation compounds meaningfully across a nine-year lease and is a large part of the total return.
Who realistically buys this asset in five years. Unusual assets in thin markets can take a very long time to sell.
Particularly for distress, auction and foreclosed assets, where obtaining actual physical possession can be the hardest part of the transaction.
Occupier types we serve
Each route has a different risk profile and a different checklist.
How we work
Four stages, one consultant, and a written record of every commercial term discussed.
We establish the ticket size, the return you actually need, your holding period and how much tenant risk you are genuinely willing to carry.
Assets are screened on lease quality and tenant covenant before price. Anything that fails those two tests does not reach you.
Title chain, encumbrance certificate, Index 2, OC, fire NOC, approvals and the full lease deed — completed before any token amount is paid.
Price, deposit transfer, apportionment of outgoings, stamp duty and registration, through to handover of the lease and the tenant relationship.
Client feedback
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The yield looked excellent until they read the lease and found eight months of lock-in remaining and no renewal obligation. We walked away and bought a bank-tenanted unit instead.
They caught an encumbrance that the seller had not disclosed. That single check is the reason I will not buy commercial property in Pune without them again.
The net yield model included CAM, property tax and the deposit obligation. My own calculation had been nearly a full percentage point too optimistic.
Commercials & lease terms
Gross yield is a marketing number. Net yield after outgoings, tax and entry costs is the one that determines what you actually earn.
Gross versus net yield
Gross is rent over price. Net deducts CAM, property tax, insurance and any owner-borne outgoings — and the gap is frequently substantial.
Stamp duty and registration
A material part of your entry cost in Maharashtra, and it must be amortised into the return rather than treated as a separate expense.
Escalation schedule
Typically 5% annually or 15% every three years. Across a nine-year lease this is a large component of total return.
Remaining lock-in
The single best predictor of income security. A long remaining lock-in with a strong tenant is worth paying a lower yield for.
Deposit obligation
The security deposit held from the tenant usually becomes your liability on purchase. It is not free money.
Exit assumption
Your return depends on the price someone pays you later. Be honest about who that buyer is and how thin that market might be.
This page is general information about how commercial investment transactions are structured in Pune, not investment, tax or legal advice. Yields, duties and charges change, and every asset differs. Take independent professional advice before committing to any transaction.
Questions occupiers ask
It is a completed commercial unit that is already let to a tenant and sold with the lease in place, so the buyer receives rental income from the day of purchase. The attraction is immediate, predictable income. The risk is that you inherit whatever the lease says, including its remaining term, its escalation schedule and the obligation to return the tenant's deposit.
It varies widely by asset class, tenant quality and lease length, and gross yield figures quoted in the market frequently ignore CAM, property tax and other owner-borne outgoings. Higher advertised yields usually signal weaker tenant covenant or shorter remaining lease term rather than a bargain. We model net yield for the specific asset before you commit.
In this order: the lease deed and its remaining lock-in, the tenant's covenant strength, the title chain and encumbrance certificate, the Index 2, the occupancy certificate and fire NOC, the security deposit obligation transferring to you, and the split of CAM and property tax between owner and tenant. The yield is the last thing to look at, not the first.
Bank tenants are generally attractive because the covenant is strong and lease tenures are long, typically nine years or more. They usually trade at a lower yield than other pre-leased assets, and that discount is precisely what you are paying for the income security. Whether it suits you depends on whether you are buying for stability or for return.
The discounts can be genuine, but so are the risks — undisclosed encumbrances, ongoing disputes and, most commonly, real difficulty in obtaining physical possession. These transactions need considerably more diligence than a normal purchase and are not suitable for a first commercial acquisition.
A structure where several investors hold proportionate interests in a single larger asset, lowering the entry ticket. The important questions are governance, how decisions are made, what the fees are and, above all, how and when you can exit. Platforms differ substantially on those terms.
We do source owner-direct and builder-direct opportunities. It is worth being clear-eyed about 'zero brokerage' though: the diligence still has to be done by someone, and buyers who skip it to save a fee routinely discover title, approval or lease problems that cost far more than the brokerage they avoided.
Requirements we handle
These are the real briefs that come across our desk. If yours is not listed here, it is still one phone call away from a shortlist.
Areas we cover
Jump straight to the micro-market you are looking at, or call +91 8793505409 and we will shortlist across all of them.
Start with a conversation
One call, one brief, and a shortlist of inspected options within 48 hours. No listing fee, no recycled photographs, no properties that were let last month.
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