Gazette Building & Court Chambers, 168-182 Corporation Street, Birmingham
Description
UNDER OFFER
• Located on Corporation Street - a well-established address in Birmingham City Centre, surrounded by the Law Courts and various associated professional occupiers.
• Mixed use property set behind an exceptional Victorian facade, extending to 57,316 sq ft over basement, ground and four upper floors.
• The property comprises Court Chambers and Gazette Building extending to 14,330 sq ft and 42,986 sq ft respectively. The properties are considered highly reversionaryand currently benefit from £309,855 per annum rental.
• Fantastic city centre location within 500 metresof HS2 Curzon St and situated in close proximity to the Martineau Galleries redevelopment and the CBD.
• Stunning opportunity for regeneration through office refurbishment or the conversion of the premises into a hotel, residential or student (STP).
• Freehold.
We are instructed to seek offers in excess of £4,000,000 (Four Million Pounds) reflecting a net initial yield of 7.28%assuming standard purchasers' costs of 6.54%. This reflects a capital value per sq ft of £69.70.
• Located on Corporation Street - a well-established address in Birmingham City Centre, surrounded by the Law Courts and various associated professional occupiers.
• Mixed use property set behind an exceptional Victorian facade, extending to 57,316 sq ft over basement, ground and four upper floors.
• The property comprises Court Chambers and Gazette Building extending to 14,330 sq ft and 42,986 sq ft respectively. The properties are considered highly reversionaryand currently benefit from £309,855 per annum rental.
• Fantastic city centre location within 500 metresof HS2 Curzon St and situated in close proximity to the Martineau Galleries redevelopment and the CBD.
• Stunning opportunity for regeneration through office refurbishment or the conversion of the premises into a hotel, residential or student (STP).
• Freehold.
We are instructed to seek offers in excess of £4,000,000 (Four Million Pounds) reflecting a net initial yield of 7.28%assuming standard purchasers' costs of 6.54%. This reflects a capital value per sq ft of £69.70.
BUILDING HIGHLIGHTS
Located on Corporation Street
Mixed use property
Extending to 57,316 sq ft
£260,855 per annum rental
