Commercial property

• Lease

  3+ year term, indexation, fit-out holidays, operating expenses (OPEX) separate from the rate.

• Sale

  Leased commercial is 'income property': priced by yield, not per m².

• Status

  Non-residential stock, kW capacity, ventilation, fire safety — critical for HoReCa/medical.

• Taxes

  VAT on commercial lease for legal entities, non-residential property tax — count into TCO.

Commercial property is valued by yield: a 10–12% cap rate is the market benchmark. A 'cafe space' without extraction and power is just a space.