High yielding HQ office investment

A rare opportunity to acquire a securely let HQ office building in a core location. The property is located in the heart of Solihull, a highly affluent town situated nine miles south-east of Birmingham city centre. The property comprises a modern Grade A office building arranged over ground, and three upper floors, across three wings, and extending to 70,870 sq.ft. Excellent parking provision of 220 spaces in a multi-storey car park situated onsite. Let to the excellent covenant of Npower Commercial Gas Limited, with a guarantee from E.ON UK plc, on a lease expiring on 31 December 2029 - 4.25 years unexpired. The tenant has been in occupation since 2008 having taken assignment of the original 2003 lease. The tenant has invested significantly in the building during its occupation including replacing the air conditioning system, upgrading the building management control system and installing roof mounted PV panels, EV charging and new LED lighting. Rent £1,594,511 per annum reflecting a very low rent of £22.58 per sq.ft.