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10 Livery St 61,695 SF 100% Leased 4-Star Office Building Birmingham B3 2NU $39,800,332 ($645.11/SF) 6.75% Cap Rate
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
Building Size
61,695 SF
Building Class
B
LoopNet Rating
4 Star
Year Built
2001
Price
$39,800,332
Price Per SF
$645.11
Cap Rate
6.75%
NOI
$2,686,522
Percent Leased
100%
Tenancy
Multiple
Building Height
6 Stories
Typical Floor Size
10,617 SF
Building FAR
3.93
Lot Size
0.36 AC
Parking
37 Spaces (0.58 Spaces per 1,000 SF Leased)
AMENITIES
- 24 Hour Access
- Raised Floor
- Reception
- Basement
- Demised WC facilities
- Natural Light
- Recessed Lighting
- Drop Ceiling
- Air Conditioning
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CONTACTS
-
Charlie Lake -
Tegan Owen -
William Higgins -
Richard Durkin -
Andy Riach -
Richard Williams -
Lambert Smith Hampton
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10 Livery St
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