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Princes Chambers 2-12 Corporation St 22,705 SF 100% Leased Office Building Birmingham B2 4RN $4,796,610 ($211.26/SF) 10.83% Cap Rate
INVESTMENT HIGHLIGHTS
- A rare opportunity to acquire Birmingham City Council’s interest which hasn’t come to the market in 150 years.
- Multi let to seven tenants with reversionary potential.
- Princes Chambers is surrounded by Birmingham’s key business community and is situated in the city’s prime retail core.
- The scheme is situated in the heart of Birmingham City Centre and sits in close proximity to New Street Station.
- Total rent of £397,300 per annum.
EXECUTIVE SUMMARY
Positioned at the heart of Birmingham's bustling city centre, New Street offers unparalleled access to one of the UK's most dynamic retail and business environments. Renowned for its high foot traffic and central location, New Street is not just a shopping destination—it’s an unrivalled opportunity for businesses to thrive in one of the most sought-after commercial corridors in the region. The Pitch Princes Chambers is situated on the corner of Corporation Street and New Street, only 50m away from the entrance to Grand Central and New Street Station which links straight through to Bullring Shopping Centre. The property is located within close proximity to Birmingham’s only Apple Store, and on a main pedestrian route for shoppers heading to both the Bullring and the world’s largest Primark on High Street.
We are instructed to seek offers in excess of £4,150,000 (Four Million One Hundred and Fifty Thousand Pounds) reflecting a net initial yield
of 9.00% and a reversionary yield of 9.4% assuming standard purchasers' costs of 6.55%.
We are instructed to seek offers in excess of £4,150,000 (Four Million One Hundred and Fifty Thousand Pounds) reflecting a net initial yield
of 9.00% and a reversionary yield of 9.4% assuming standard purchasers' costs of 6.55%.
PROPERTY FACTS Under Contract
Sale Type
Investment
Property Type
Office
Tenure
Long Leasehold
Building Size
22,705 SF
Building Class
B
Year Built
1893
Price
$4,796,610
Price Per SF
$211.26
Cap Rate
10.83%
NOI
$519,473
Percent Leased
100%
Tenancy
Multiple
Building Height
5 Stories
Typical Floor Size
4,356 SF
Building FAR
5.21
Lot Size
0.10 AC
AMENITIES
- 24 Hour Access
- Controlled Access
- Security System
- Signage
- Storage Space
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Princes Chambers | 2-12 Corporation St
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