- Opportunity to acquire a multi-let office building with asset management potential.
- Prominently located on Highlands Road, part of the Monkspath Estate with good access links to the M42 motorway and Solihull Town Centre.
- Two story offices extending to 14,685 sq. ft. with 53 car parking spaces providing a ratio of 1:277sq. ft.
- Tenants include, React Building Services, Integrity Security Group, Amtech and Allen Construction providing a WAULT of 4.4 years to lease expiry and 3.2 years to break.
- Current passing rent of £105,076 pa equating to £7.16 per sq ft overall with an anticipated reversionary rent of £177,608 pa on settling outstanding rent reviews and refurbishing and letting the vacant office suite.
We are instructed to seek offers in excess of £1,350,000 (One Million Three Hundred and Fifty Thousand Pounds)subject to contact and exclusive of VAT.
A purchase at this level reflects a net initial yield of 7.34%, a reversionary yield of 12.41% and an attractive capital value of £91.93 per sq ft assuming standard purchasers’ costs of 6.02%.