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Multi-let city centre office

Birmingham, United KingdomUnlock address

89%

£14.000.000

Office

#13005

Core+, Value-Add

24 Feb 2024

Property Details

Broker

Sold

62,477 sq.ft.

5,804 m²

Leasable area

224 £/sq.ft.

2,412 £/m²

7.50 %

6

Freehold

X

Fees

0.00 %

0.40 %

0.00 %

0.40 %

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.