£12.300.000
Confirmation
Landmark Office Tower (resi conversion)
Birmingham, United Kingdom
Office
#35942
Value-Add
10 Mar 2025
Property Details
Broker
For sale
79,499 sq.ft.
7,386 m²Leasable area
154 £/sq.ft.
1,665 £/m²12
Leasehold
125
Fees
Investment Overview
Property sits strategically at the heart of the city core. Outstanding panoramic views as one of the tallest city centre buildings. Excellently located for all three major transport hubs - Birmingham's largest station, New Street, is within a 5-minute walk, and Snow Hill and the new HS2 hub near Moor Street are less than a 7-minute walk away. Prime pitch surrounded by high profile offices within the CBD and next to the city's extensive retail offering, a range of high-quality restaurants and bars and a mix of other leisure destinations. Property currently provides 79,499 sq ft of offices over basement, ground and podium level with 17 upper floors. Multi-let to 12 tenants providing a WAULT of 2.5 years to breaks and 3.7 years to expiries. Total rent of £827,908 per annum, reflecting a very low average rent of only £25.76 per sq ft. £3.12 million of recent landlord investment, including a modernised reception comprising a welcoming hotel-style lounge and breakout areas. 125 year Long Leasehold interest. Terms agreed subject to contract and premium to acquire a new virtual Freehold (999-year lease).
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