£38.750.000
Confirmation
Iconic CBD Office Investment
Birmingham, United Kingdom
Office
#36215
Core+
16 Apr 2025
Property Details
Broker
For sale
186,750 sq.ft.
17,349 m²NIA
207 £/sq.ft.
2,233 £/m²9.98 %
25
Leasehold
232
Fees
Investment Overview
One of Birmingham City Centre’s most important office buildings. Total floor area extending to 186,750 sq ft (NIA). 190 parking spaces within a secure basement car park. 81% of the accommodation has been refurbished during ownership. Currently 83% let to 25 tenants providing excellent income diversity. Let to a wide variety of occupiers with a significant massing of highly innovative tech and digital sector tenants. Total passing income of £4,127,561.50 p.a. net of the ground rent of £130,000 p.a. WAULT of 3.91 years to expiry and 2.16 years to break. 11 new lease commitments secured since January 2024. A clear route to EPC B and to carbon net zero. Grade 2 listed attracting nil void rates.
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