Princes Chambers, Corporation Street, Birmingham
61,517 sq ft
Description
A rare opportunity to acquire Birmingham City Council’s interest which hasn’t come to the market in 150 years.
The scheme is situated in the heart of Birmingham City Centre and sits in close proximity to New Street Station.
Princes Chambers is surrounded by Birmingham’s key business community and is situated in the city’s prime retail core.
The building extends to 5,715 sq m (61,517 sq ft), comprising of five ground floor retail units with the upper floors disposed of by way of a long leasehold.
Multi let to seven tenants with reversionary potential.
Total rent of £397,300 per annum.
Available on a new 250 year long leasehold interest at a peppercorn.
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%.
The scheme is situated in the heart of Birmingham City Centre and sits in close proximity to New Street Station.
Princes Chambers is surrounded by Birmingham’s key business community and is situated in the city’s prime retail core.
The building extends to 5,715 sq m (61,517 sq ft), comprising of five ground floor retail units with the upper floors disposed of by way of a long leasehold.
Multi let to seven tenants with reversionary potential.
Total rent of £397,300 per annum.
Available on a new 250 year long leasehold interest at a peppercorn.
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%.
BUILDING HIGHLIGHTS
Situated in the heart of Birmingham City Centre
Extends to 5,715 sq m (61,517 sq ft)
Multi let to seven tenants
Total rent of £397,300 per annum
