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10 Livery St 61,695 sq ft 90% Let Office Property Birmingham B3 2NU £29,820,000 (£483.35/sq ft) 6.75% Net Initial Yield
Investment Highlights
- Located in the heart of the CBD
- WAULT of 10.4 years to expiry (6.6 years to break)
- Adjacent to Snow Hill Station
- Highly secure office income
Executive Summary
Newly repositioned and refurbished prime mixed use office building totalling 63,704 sq ft IPMS-3 across ground and five upper floors.
Multi-let at a total contracted rent of £2,149,884 per annum (including rental guarantees). The contracted office income equates to a low £32.85 per sq ft, reflecting a 42% discount to prime Birmingham rents of £46.50 per sq ft, and provides significant future growth potential. The office income is highly secure against well established, national occupiers. 10% of the total income attributed to a global medical brand on a new 15 year lease.
Multi-let at a total contracted rent of £2,149,884 per annum (including rental guarantees). The contracted office income equates to a low £32.85 per sq ft, reflecting a 42% discount to prime Birmingham rents of £46.50 per sq ft, and provides significant future growth potential. The office income is highly secure against well established, national occupiers. 10% of the total income attributed to a global medical brand on a new 15 year lease.
Property Facts
Sale Type
Investment
Property Type
Office
Tenure
Freehold
Property Size
61,695 sq ft
Costar Property Class
B
Year Built
2001
Price
£29,820,000
Price per sq ft
£483.35
Yield
6.75%
NOI
£2,012,850
Occupancy Rate
90%
Tenancy
Multiple
Number of Floors
6
Typical Floor Size
10,617 sq ft
Plot ratio
3.93
Total Plot Size
0.36 ac
Parking
37 Spaces (0.58 Spaces per 1,000 sq ft Leased)
Amenities
- 24 Hour Access
- Security System
- Signage
- Reception
- Basement
- Demised WC facilities
- Natural Light
- Recessed Lighting
- Suspended Ceilings
- Air Conditioning
- Raised Floor System
Space Availability
- Space
- Size
- Space Use
- Fit-Out
- Available
The premises comprise 6,120 sq ft of high-quality, fully refurbished, column-free office space within the core of Birmingham’s CBD.
| Space | Size | Space Use | Fit-Out | Available |
| 2nd Fl-Ste Part | 6,120 sq ft | Office | Full Fit-Out | Now |
2nd Fl-Ste Part
| Size |
| 6,120 sq ft |
| Space Use |
| Office |
| Fit-Out |
| Full Fit-Out |
| Available |
| Now |
2nd Fl-Ste Part
| Size | 6,120 sq ft |
| Space Use | Office |
| Fit-Out | Full Fit-Out |
| Available | Now |
The premises comprise 6,120 sq ft of high-quality, fully refurbished, column-free office space within the core of Birmingham’s CBD.
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10 Livery St
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