Garden Suites Cambrai Court, 1229 Stratford Road, Birmingham, Birmingham, B28 9AA

Substantial office investment in sought after location

Property details

Type Investment, Office
Price Offers based on £500,000
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Features
  • Ground Floor modern office investment opportunity
  • High quality office accommodation throughout with car parking on site
  • Fully let to two quality tenants producing £45,996 per annum
  • Available as a whole or individually by negotiation
  • Freehold – offers based on £500,000 equating to an attractive net initial yield of 8.79%
Location
Cambrai Court occupies a most prominent position on the main A34 Stratford Road in the heart of Hall Green, just 6 miles south of Birmingham City Centre, which is reachable in 9 mins from Hall Green train station. Hall Green is a densely populated suburb and is within relatively short proximity to Shirley High Street and Solihull Town Centre. Access to the local motorway network is provided by Junction 4 of the M42 motorway (circa 3 miles southeast). and easy access to the new HS2 station, represents an ideal opportunity for investment . Cambrai Court is also situated outside of the Clean Air Zone charges with a host of local amenities on the doorstep including Waitrose & Costa.
Description

Cambrai Court is a substantial imposing Edwardian property with high quality features throughout. The property currently operates as a large multi-let office complex in the Birmingham suburb of Hall Green and comprises five offices buildings and lends itself to a variety of configurations . The unlisted property extends internally to approximately 10,259 sq. ft. (953.50 sq. m) of refurbished offices set in a site of some 0.55 acres or thereabouts. Each of the individual properties enjoy their own entrance and all have dedicated on site car parking with a total of 39 car park spaces to the front and rear of the property.

Each Garden Suite is access via their own entrance doors at the rear of the property , accessed directly from the main car park.

Accommodation
Each suite comprises modern open plan office accommodation with kitchen, WC & separate disabled WC facilities. The properties are accessed directly from the rear car park.
Price
Offers based on £500,000 plus vat are invited for both suites, equating to an attractive net initial yield of 8.79%. Alternatively , offers may be considered for the suites on an individual basis.
Tenancy
Garden suite 1 - let to CBL until June 2024 at a passing rent of £19,596 per annum
Garden suite 2 - let to Teledyne until June 2025 at a passing rent of £26,400 per annum
Total rental income - £45,996 per annum

Tenant profile - Teledyne - A designer and manufacturer of high-performance cameras and optics-based solutions for scientific esearch. They are a New York Stock Exchange listed company (symbol TDY) with offices worldwide.

CBL - Established in 2014 CBL Distribution Ltd is a wholesaler and distributor of books & media serving the UK & European markets.
VAT
We are advised that VAT is applicable, and payable in addition to the purchase price, although it is anticipated that the sale will be treated as a TOGC.
EPC
Available upon request.
Legal Costs
Each party is to be responsible for their own legal costs that may be incurred in this transaction.
Anti 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.