£14.000.000
Confirmation
Multi-let city centre office
Birmingham, United Kingdom
Office
#13005
Core+, Value-Add
21 Nov 2024
Property Details
Broker
Sold
62,477 sq.ft.
5,804 m²Leasable area
224 £/sq.ft.
2,412 £/m²7.50 %
6
Freehold
Fees
Investment Overview
Multi-let city centre office with a strong tenant lineup, low capital value and rare repositioning opportunity. Extensive asset management opportunities across the existing tenancies, including re-gears and rent review uplifts. WAULT - 1.2 years to expiry/1.1 years to break. Excellent city centre car parking ratio of 1:1,785 sq ft. Constructed in the 1960’s and was converted to an office in 1996. Secure income with extensive asset management opportunities across the existing tenancies and offering, including re-gearing leases, agreeing rental uplift on outstanding / upcoming rent reviews, and letting the 2,467 sq ft vacant retail unit.
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