Frank-Steier Price Ltd. Leading niche commercial property investment practice Logo for Midlands Property Awards 09

June 2017

The Courtyard, Solihull, 707 Warwick Road, Solihull, B91 3DA


under offer

The property comprises a prime multi-let office building in the heart of Solihull town centre.  The property is located adjacent to Mell Square Shopping Centre and with direct frontage onto Warwick Road.  Attractive modern courtyard office extending to 43,020 sq.ft arranged over a 9 courtyard scheme with the benefit of 153 car parking spaces providing an excellent ratio of 1:281 sq.ft.  WAULT of 5.38 years to expiry and 3.78 years to break.  Current void of 10,663 sq.ft providing excellent asset management opportunities.  Total passing rent of £558,223 per annum reflecting a low average rent of £17.29 per sq.ft.  Offers sought in excess of £7,500,000 which reflects a net initial yield of 6.98%, a capital value of £174 per sq.ft and a reversionary yield of 9.97% when fully let.