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Birch House, Birchley Park, Oldbury B69 2AQ

Offers Over £6,070,000

About this property

DESCRIPTION
Developed in 2001, Birch House is a modern office building of steel framed construction under a traditional pitched tiled roof.
The façades are a mixture of brick and aluminium profile cladding with full height atrium creating impressive access to the office accommodation. The site extends to approximately 0.93 hectares (2.36 acres) and there are 177 car parking spaces, providing an excellent car  parking ratio of 1:18.76 sq m (1:202 sq ft).

LOCATION

Oldbury is positioned at the heart of the UK, only 8km (5 miles) north-west of Birmingham, the economic powerhouse for the West Midlands and the principal commercial and administrative centre for the wider Midlands region. Birmingham boasts a population of circa 1,101,000 (2017 est.) making it the largest regional centre in the UK in both population and economic terms. The wider Greater Birmingham conurbation has a resident population of circa 2.45 million (2014 est.) and the property benefits from access to over 50% of the UK population within 2 hours. Oldbury and the West Midlands are due to benefit from Significant investment over the next 10 years with an estimated £10bn of infrastructure due to be delivered, including Motorway improvements, Metro extensions and the arrival of HS2 to the region. The Black Country in particular has seen a significant increase in foreign and domestic investment over the last few years and was recognised as one of the top 5 cost-effective regions in the UK. This continued investment will cement the regions position in a National and European context in terms of premier business locations.

SITUATION
The property is situated adjacent to St Modwen’s Birchley Island development scheme. The scheme involves a major capacity Improvement to the linked junctions of Birchley Island and M5, Junction 2, building on the Highways Agency scheme to widen the motorway ‘off’ slips as part of the Pinch Point programme. The property is accessed principally from Joseph Street, an estate road that connects to both the A4123 dual carriageway and A4034. Both these roads provide access to Birchley Island and the M5 motorway whilst the A4123 connects with Dudley and the A4034 provides access to Oldbury town centre, Oldbury Green Retail Park and Sainsbury’s supermarket all of which are in close proximity.
The neighbouring area is predominantly commercial, supporting a variety of different uses, including modern office, retail warehousing, food retailing, industrial, trade counter and car showrooms with occupiers including, AA, Toys R U, Halfords, Dunelm Mill, CD Transport, McDonalds and Fayre Square Public Houses.

 

ACCOMMODATION

The vendor has provided the following Net Internal Areas:

Grd Flr Reception 678 Sq. Ft.
Grd Flr Offices  11,584 Sq. Ft.
1st Flr Offices 11,599 Sq. Ft.
2nd Flr Offices 11,888 Sq. Ft.
Total  35,749 Sq. Ft.

TENURE
The property is held freehold.

TENANCY
The property is let in its entirety to Npower Ltd on a Full repairing and Insuring lease for a term of 20 years commencing on the 12th March 2001 and expiring on 11th March 2021, providing 3.5 years unexpired. The passing rent is £517,650 per annum reflecting £14.48 per sq ft overall.

COVENANT
Npower Ltd is the UK retail energy arm of RWE Group,
one of Europe’s five leading electricity and gas companies,
active in the generation, trading, transmission and supply
of electricity and gas.  Npower supplies electricity and gas to six million residential customer accounts and is also the second largest supplier of energy to the business market serving around half a million customers.
Npower employs around 11,500 people in the UK, with its
headquarters based in Swindon. The Birch House facility
accommodates Npower’s major business and customer service teams. For further information visit www.npower.com

MONEY LAUNDERING

In accordance with Anti-Money Laundering Regulations, two forms of identity and confirmation of the source of funding will be required from the successful Purchaser.

Key Features

  • High Quality 3 storey modern office building comprising 35,749 Sq. Ft.
  • Offers in the region of £6,070,000 Exclusive of VAT. Reflecting a NIY of 8.00% assuming purchasers costs of 6.63% and a low overall capital value of £170 P.S.F.
  • Let in its entirety to Npower Ltd.
  • Passing rent of £517,650 per annum equating to a modest £14.48 Sq. Ft.
  • Male, female and disabled toilets on all floors with gym facilities
  • Comfort cooling throughout and heating provided by way of a low-pressure hot water system
  • Two 13-person passenger lifts

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