Week 42 · 2/5 · retail building · #0007
Annastraat 19
The location
Shops and food outlets within 100 m, against the busiest spot in town. Under 25%, distance decides: within 250 m of the busiest spot is B2, further out is C. This one is 284 m away.
The verdict
Pass at asking.
A 1930 building in the centre of Geleen, let to a gaming hall on a lease the brochure does not show. At €735k it returns 2.9% a year over ten years, before any loan; this location needs 8.25%. It works at about €511k: priced on casino rent.
| Figure | Value | Against |
|---|---|---|
| Works at | €511k | ✕30% below asking |
| NIY at asking | 7.6% | ●year-one net rent against price plus costs |
| Your return at asking, no loan | 2.9% | ✕needs 8.3% |
| With a 55% loan | −1.5% | ✕worse than no loan |
| Confidence | Low | ● Rent from the brochure and the casino confirmed trading there. The lease itself (start, end, indexation) is not in the brochure, so the end is assumed at 31 December 2029. The next rent is estimated from asking rents for smaller shops nearby. Floor areas used as given. |
What matters most
- 1AgainstThe lease is missing2.9 years✕
of lease Anvest assumes at purchase: the brochure gives no start, no end and no indexation
- 2AgainstThe casino pays above the street€133 per m²✕
a year, against €100 asked for a shop at Annastraat 9A and €81 to €114 on the Markt
- 3MixedA shrinking trade, a scarce permit−10%!
gaming halls in the Netherlands in one year, 217 to 196; Sittard-Geleen allows at most four
The flip
Rent from 2030, a year, in today's moneyUp: it only becomes Uncommon (works within 15% of asking) if the rent from 2030 is at least €65,800 a year, close to the €69,954 the casino pays now. Rare would need €74,300, more than the casino pays today. Anvest prices the next letting at €52,600, what a shop on the street asks. Rents are in today's money.
Playground
Loading the model.
Yellow = changed from Anvest's assumptions.
The brochure, checked
Fully let to FairPlay Casino
Fair Play Casino trades at Annastraat 19, seven days a week. It is one of more than 30 Fair Play gaming halls, run by a group based in Kerkrade.
The brochure gives no lease. Ask for it, with the start and end dates, the indexation and any bank guarantee.
Rent €69,954.12 a year (€5,829.51 a month), excluding VAT
That is €133 per m² a year on 526 m². A 70 m² shop on the same street, Annastraat 9A, is on offer at €100 per m²; on the Markt shops ask €81 to €114, and bigger units in the centre €77 to €78.
Anvest keeps the casino's rent to the assumed lease end, then prices the next letting at €52,600 a year (€100 per m²).
A direct and stable return
Stable only while the casino stays. Dutch gaming halls fell from 217 to 196 in 2024, and their player seats by 15%. Sittard-Geleen allows at most four gaming halls, and capped permits must be open to competition when they are handed out.
Ask when the casino's permit runs out, and whether it is tied to this address.
In the centre of Geleen, a stone's throw from the Markt
Town centre, side street: 36 shops and food outlets within 100 m, 38% of the 96 at the busiest spot on the Salmstraat, 284 m away. The town's own centre plans call the Annastraat a feeder street, outside the core.
Room to turn the building into apartments later
Not in the price. The town's 2015 centre plan sees homes as the main fix for empty shops outside the core, but the zoning the brochure quotes lists shops, services, social uses and offices, not homes, and the casino would have to leave first.
Ask the town whether homes are allowed here before paying for this.
Built in 1930
Public registers also give 1930.
Anvest budgets €26,300 of catch-up works (€50 per m²) in year two.
526 m² on a plot of 505 m²
Used as given. Floor areas in public registers are unreliable, so Anvest works with the brochure.
Energy label E
Not checked: the energy label register is outside the data this page can reach.
Zoning 'Centrum' (plan Geleen Centrum): shops, services, social uses and offices with a counter
Not checked: the zoning map is outside the data this page can reach.
A gaming hall is not on the brochure's list of uses: ask whether the plan allows it at this address.
The neighbourhood
| Measure | Value | Against |
|---|---|---|
| Household income, Geleen-Centrum | €31.5k | ✕17% below Sittard-Geleen (€38.0k) |
| Average home value | €214k | !21% below Sittard-Geleen (€271k) |
| Homes within 500 m | 2,266 | ●79 within 100 m |
| Shops and food outlets within 500 m | 281 | ✓225 shops and 56 food outlets |
| People in Sittard-Geleen, 2016 to 2026 | −1.2% | ✕92,461 now, 93,555 in 2016; the Netherlands +6.8% |
About this card
| Unit | m² | Rent a year | Lease end |
|---|---|---|---|
| Fair Play Casino, gaming hall | 526 | €70.0k | 31 Dec 2029 |
- Retail segment
- Leisure
- Lease
- ends 31 Dec 2029, 3.2 years left, assumed
- Rent against market
- overrented, 33% above market rent
- Build year
- 1930
- Energy label
- E (brochure, not verified)
- Zoning
- Centrum, plan Geleen Centrum: shops, services, social uses, offices with a counter (brochure, not verified)
- Cadastre
- Plot 505 m² (brochure, not verified)
Analysed 11 Oct 2026 · model anvest-model v0.3
Offered by Royworks bedrijfsmakelaars en vastgoedbeheer · royworks.nl · listing
Anvest has no ties to the seller or the agent.
