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10 Livery St 76,314 SF 100% Leased Office Building Birmingham B3 2NU $55,029,457 CAD ($721.09 CAD/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
76,314 SF
Building Class
B
Year Built
2001
Price
$55,029,457 CAD
Price Per SF
$721.09 CAD
Cap Rate
6.75%
NOI
$3,714,488 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
6 Stories
Typical Floor Size
10,617 SF
Building FAR
4.87
Lot Size
0.36 AC
Parking
37 Spaces (0.58 Spaces per 1,000 SF Leased)
Amenities
- 24 Hour Access
- Security System
- Signage
- Reception
- Basement
- Demised WC facilities
- Natural Light
- Recessed Lighting
- Drop Ceiling
- Air Conditioning
- Raised Floor System
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Contacts
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10 Livery St
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