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T2 Trinity Park T2 Bickenhill Ln 32,848 SF Office Building Birmingham B37 7ES $10,010,144 ($304.74/SF) 10.04% Cap Rate
INVESTMENT HIGHLIGHTS
- Let in its entirety to Mitie Limited on a 10-year lease commencing 31st August 2021 (6 years remaining)
- Extensively refurbished in 2020 providing high quality office space and an EPC B rating
- Passing rent of £803,149 reflecting a low average rent of £24.50 psf on the office space
EXECUTIVE SUMMARY
Seek offers in excess of £7,500,000 (Seven Million, Five Hundred Thousand Pounds) subject to contract and exclusive of VAT. A purchase at this level is reflective of an attractive NIY of 10.04%, a headline reversionary yield of 11.26% and a low capital value of £228 per sq. ft.
PROPERTY FACTS Sale Pending
Sale Type
Investment
Property Type
Office
Tenure
Freehold
Building Size
32,848 SF
Building Class
B
Year Built/Renovated
2000/2020
Price
$10,010,144
Price Per SF
$304.74
Cap Rate
10.04%
NOI
$1,005,018
Tenancy
Single
Building Height
3 Stories
Typical Floor Size
10,949 SF
Building FAR
0.56
Lot Size
1.34 AC
Parking
116 Spaces (3.53 Spaces per 1,000 SF Leased)
AMENITIES
- Raised Floor
- Energy Performance Rating - B
- Car Charging Station
- Bicycle Storage
- Central Heating
- Common Parts WC Facilities
- Direct Elevator Exposure
- Reception
- Shower Facilities
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VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
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MAP
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T2 Trinity Park | T2 Bickenhill Ln
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