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Vibrant multi-let office investment

Birmingham, Royaume-UniDéverrouiller l'adresse

90%

£8.230.000

Bureau

#16602

Core+

2 Feb 2024

Détails du bien

Courtier

À vendre

49,353 sq.ft.

4 585 m²

Surface locative

166 £/sq.ft.

1 794 £/m²

8.75 %

24

Pleine propriété

X

Frais

0.00 %

0.50 %

0.00 %

0.00 %

0.50 %

Aperçu de l'investissement

Prominently located at the heart of the Southside District, well known as one of the most vibrant, colorful and culturally diverse areas in Birmingham. Multi-let to 24 tenants in total including 17 office occupiers and 7 retail tenants. Birmingham is the UK’s second city, and the regional centre in the UK in terms of population and economic output, and it boasts world class connectivity. The building is held Freehold and totals 49,353 sq ft (82% offices / 18% retail & leisure) and is multi-let to a diverse range of occupiers. EPC B43. Strong leasing momentum with 41% / 16,432 sq ft let or regeared in the last 15 months - highest number of deals in a single building in Birmingham for 2022. Attractive WAULT of 7.4 years to expiry and 5.2 years to break. Rental income of £768,550 per annum reflecting a highly reversionary office rent of £19.42 per sq ft (Vs the building rental tone of £28.40 per sq ft and the prime Birmingham rent of £41.50 per sq ft). £6.5 million Landlord capex in recent years to reposition the building including retail frontage upgrades, façade upgrade, a transformative reception refurbishment, a new members lounge, WC and common area works, as well as on-floor Cat A and Cat A+ refurbishments.