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Assay Studios Newhall St 28,219 sq ft 100% Let Office Property Birmingham B3 1SF £5,800,000 (£205.54/sq ft) 10.20% Net Initial Yield
INVESTMENT HIGHLIGHTS
- Assay Studios occupies a prominent corner position on Newhall Street at the intersection with Charlotte Street in the heart of the Jewellery Quarter.
- Strong ESG credentials; focus on preserving a historic building whilst also undertaking numerous sustainability initiatives.
- Opportunity to redevelop the large flat roof area to provide an additional club /community accommodation.
- Comprehensively refurbished in 2016 to accommodate modern office space whilst also restoring and retrofitting some of the iconic original features.
- A modern creative hub which extends to a NIA of 28,219 sq ft (2,621.60 sq m) and is arranged over basement, ground and three upper floors.
- Freehold.
EXECUTIVE SUMMARY
Assay Studios is a fully let, multi-tenant office property located on Newhall Street in Birmingham’s vibrant business district. The property totals 28,219 sq ft and is currently leased to 32 tenants, providing a diverse and steady income stream.
Offers are invited in excess of £5,800,000, subject to contract and exclusive of VAT. A purchase at this level would reflect a Net Initial Yield of 10.20%, with a Reversionary Yield of 12.00%, offering investors an attractive return on investment and future income growth potential.
Offers are invited in excess of £5,800,000, subject to contract and exclusive of VAT. A purchase at this level would reflect a Net Initial Yield of 10.20%, with a Reversionary Yield of 12.00%, offering investors an attractive return on investment and future income growth potential.
PROPERTY FACTS Sale Pending
Sale Type
Investment
Property Type
Office
Tenure
Freehold
Property Size
28,219 sq ft
Costar Property Class
B
Year Built/Renovated
1878/2016
Price
£5,800,000
Price per sq ft
£205.54
Yield
10.20%
NOI
£591,600
Occupancy Rate
100%
Tenancy
Multiple
Number of Floors
5
Typical Floor Size
5,644 sq ft
Plot ratio
1.14
Total Plot Size
0.57 ac
AMENITIES
- 24 Hour Access
- Atrium
- Controlled Access
- Security System
- Signage
- Kitchen
- Reception
- Storage Space
- Bicycle Storage
- Shower Facilities
- Wi-Fi
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Assay Studios | Newhall St
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