60 Church Street, Birmingham , B3 2DJ
, B3 2DJ
Price: Rent: POA Sale Price: POA
Size: SOA Primary Category: Office All Categories:
Office, Property Ref/Movehut: MH618925 Property Ref/Agent: 14769
*Please use the agent ref when calling the agent directly.
Property Date Information
Last Updated: January 27, 2020
Prime Office Investment in the heart of Birmingham City Centre
60 Church Street,
Birmingham , B3 2DJ
1 - 63,288 sq ft
(0 - 5,880 sq m)
Located in a prime CBD location within Birmingham City Centre – with a £1.2m programme of further enhancement works within the immediate area.
Extensively refurbished 11 storey office building extending to a NIA of circa 63,288 sq ft with 26 basement parking spaces.
Current total rental income of £1,223,437 per annum, reflecting a low average rent of £19.33 per sq ft and excellent reversionary potential.
Strong tenant line-up including AIG, Bruton Knowles, Capital Outsourcing, Kings Chambers, Marston Group, Maersk, Thompson Solicitors, The Economist Newspaper, Succession Wealth Group, West Midlands Trains and Reach Midlands Media.
88.5% of total income rated by Creditsafe as low to very low risk.
WAULT to break options of circa 3.86 years and circa 5.34 years to expiries.
Proven headline rental growth of circa 33% since March 2017.
We are instructed to seek a purchase price of £18,000,000 (Eighteen Million Pounds) reflecting an attractive net initial yield of 6.37%, a potentially high reversionary yield of 7.58% and a low capital value of £284.41 per sq ft, assuming purchasers costs of 6.74%.
EPC for 60 Church Street, Birmingham , B3 2DJ
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