Property Information
Address:
Norfolk House Smallbrook Queensway , Birmingham , B5 4LJ
, B5 4LJ
Price: Property no longer available.
Size: 116883 sq ft10858 sqm
Primary Category: Office
All Categories:
Office,
Property Ref/Movehut: MH610840
Property Ref/Agent: 14300
*Please use the agent ref when calling the agent directly.
Property description
High profile office investment in the heart of Birmingham City Centre
Norfolk House
Smallbrook Queensway ,
Birmingham , B5 4LJ
Ref
14300
Category
Invest
Type
Office
Status
Available
Price/Rent
£ 22,500,000
Size
116,883 - 116,883 sq ft
(10,859 - 10,859 sq m)
Landmark 116,883 sq ft office building in Birmingham, the UK’s second city
Strategically positioned directly to the south of Birmingham’s main rail terminal, New Street Station
The building has been internally refurbished as part of a re-positioning strategy by the vendors who have spent circa £4m since acquisition in 2015
A fantastic opportunity to further enhance and reposition the building by the addition of floorspace, improving the appearance of the external facade and improving the amenity offer
Offices totalling 89,450 sq ft with excellent office floorplates in excess of 18,000 sq ft
12 retail units totalling 27,433 sq ft
Multi let with 89% of income coming from The Secretary of State for Communities and Local Government, and Spark44
With lettings currently under offer, the current passing rent reflects £1,691,754 per annum (rental guarantee offered if not complete)
The current passing average office rent equates to circa £16.00 per sq ft, compared with similar city centre buildings over £20.00 per sq ft
AWULT of approximately 1.63 years to break and 4.97 years to expiry as of 30 September 2018
Freehold
We are instructed to seek offers in excess of £22,500,000 (Twenty Two Million Five Hundred Thousand Pounds) reflecting an attractive net initial yield of 7.04%. We have assumed purchasers costs of 6.75%.
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