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11-12 Cox St - Church Court 3,558 SF Office Condo Unit Offered at $1,115,947 CAD in Birmingham B3 1RD
INVESTMENT HIGHLIGHTS
- Great transport links
- Great location
- Lots of natural light
EXECUTIVE SUMMARY
Church Court is a private courtyard office development located just off St Paul's Square in Birmingham's historic and vibrant Jewellery Quarter.
PROPERTY FACTS
| Total Building Size | 10,659 SF | Typical Floor Size | 3,553 SF |
| Property Type | Office (Condo) | Year Built | 1991 |
| Building Class | B | Parking Ratio | 0.28/1,000 SF |
| Floors | 3 |
| Total Building Size | 10,659 SF |
| Property Type | Office (Condo) |
| Building Class | B |
| Floors | 3 |
| Typical Floor Size | 3,553 SF |
| Year Built | 1991 |
| Parking Ratio | 0.28/1,000 SF |
AMENITIES
- 24 Hour Access
- Controlled Access
- Raised Floor
- Security System
- Accent Lighting
- Storage Space
- Air Conditioning
1 UNIT AVAILABLE
Unit 1
| Unit Size | 3,558 SF | Tenure | Long Leasehold |
| Price | $1,115,947 CAD | Cap Rate | 6.35% |
| Price Per SF | $313.64 CAD | NOI | $70,862.66 CAD |
| Condo Use | Office | No. Parking Spaces | 1 |
| Sale Type | Investment |
| Unit Size | 3,558 SF |
| Price | $1,115,947 CAD |
| Price Per SF | $313.64 CAD |
| Condo Use | Office |
| Sale Type | Investment |
| Tenure | Long Leasehold |
| Cap Rate | 6.35% |
| NOI | $70,862.66 CAD |
| No. Parking Spaces | 1 |
DESCRIPTION
The property features a boardroom, reception, and breakout spaces on the ground floor, with open-plan offices on the first and second floors. Built-in kitchenettes on all floors provide ample storage and space for appliances, while natural light floods the workspace, creating a bright and inviting environment. Heating is via central heating with thermostats on each floor.
SALE NOTES
This attractive 3-storey office building in the Birmingham Jewellery Quarter is fully let to Tutors and Exams Limited on a 7-year lease outside the Landlord and Tenant Act 1954, offering a strong investment opportunity with a 6.35% net initial yield and a reversionary yield 7.14%. The property is registered for VAT and can be treated as going concern.
The lease generates a stepped rental income of £40,000 per annum in years 1 and 2, rising to £45,000 per annum in years 3 to 5, with an upward-only market rent review and tenant break option on the 5th anniversary. Tutors and Exams Limited has a credit safe risk score of 76 and shareholder funds exceeding £500,000 as at August 2023, reinforcing the covenant strength.
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11-12 Cox St - Church Court
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