About this property
The investment comprises a modern two storey office building fronting modern well refurbished buildings which totals 26,015 sq. ft with addition ample marked car parking and yard space. The site is level and served directly form the public highway by a service road leading from Clapgate Lane.
LOCATION AND SITUATION
The property is located in an established business and commercial location adjacent to the successful and modern Woodgate Business Park owned and operated by Birmingham City Council. Sterling Park is located off Clapgate Lane approximately 7 miles south west of Birmingham City Centre. The investment is accessible from Junction 3 of the M5 motorway which is approximately 0.5 miles distant.
All mains services including gas, water, electricity and drain-age are available. Prospective purchasers are to investigate location and capacity to their own satisfaction.
£1.3 million is sought for the freehold interest, subject to contract. This represents a Net Initial Yield of 8.66% based on a current income of £119,320 per annum after deducting purchasers costs of 5.99% .
Freehold, subject to the exiting tenancies.
We are advised that VAT does not apply in this instance, however, prospective purchasers should satisfy themselves in this regard.
Available upon request.
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.
- High yielding.
- Well managed.
- Range of tenants
- Close to M5 Motorway
- Current incomes: £121,140.00 per annum
- Offers sought in excess of £1.3 million, representing a NIY of after purchasers costs of 5.99%
- 26,015 Sq. Ft.