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Prime City Centre HQ Office & Hotel

Birmingham, United KingdomUnlock address

87%

€59.600.000

Mixed use

#16444

Core

9 Jan 2024

Property Details

Broker

For sale

148,828 sq.ft.

13,826 m²

Leasable area

400 €/sq.ft.

4,310 €/m²

6.25 %

1

Freehold

X

Fees

0.00 %

0.30 %

0.00 %

0.30 %

Investment Overview

•Situated in a prime Birmingham City Centre CBD location adjacent to Paradise, the UK’s largest mixed-use development. Opportunity to acquire a Freehold HQ office totalling 94,475 sq ft NIA with a 120-bed / 54,353 sq ft GIA hotel. Mission critical asset, purpose-built in 2003 for the tenant, serving as their HQ and benefitting from recent tenant investment. Fully let to Mitchells & Butlers Retail (No. 2) Ltd with guarantees from both Mitchells & Butlers PLC and Mitchells & Butlers Holdings Ltd. The hotel is operated by Ibis, part of the Accor Group, one of the world’s largest hotel groups, on behalf of Mitchells & Butlers. 325 secure on-site car parking spaces. The property was subject to office refurbishment works completed by the tenant in 2021. The works totalled approximately £600,000 and included office redecoration, new LED lighting throughout the offices, lift refurbishment, upgraded chilled beams above the suspended ceiling & sealed plenums below the raised floor, and HVAC system works.