Property Investment with Development Potential
- Rare opportunity to acquire an income producing property investment in a prominent position with excellent redevelopment prospects.
- Direct access off the A38M Aston Expressway onto Mill Street in Birmingham, adjacent to the Canal and within close proximity of Birmingham Innovation Campus and Aston University.
- Freehold two storey office and training centre extending to 20,758 sq ft including a large adjacent car park with a total site area of 0.9 acres.
- Let to JTL on a 5 year lease expiring on 14th August 2023 with a tenant’s break clause at 15th February 2021 on giving 12 months notice. The lease is contracted outside of the security of tenure provisions of the Landlord and Tenant Act 1954.
- Current passing rent of £186,825 per annum equating to £9.00 per sq ft.
- Excellent redevelopment opportunities (subject to planning) to student, residential or offices.
- Offers in excess of £2,600,000 (Two Million Six Hundred Thousand Pounds) which reflects a net initial yield of 6.75% and a low capital value per sq. ft. of £125.