Office

Stratford Court, Cranmore Boulevard, Solihull B90 4QT

 

Price: £6,100,000 - Initial Yield:6.87%

Date: Q3 2018

Acting on behalf of Eskmiur Properties we advised on the sale of this multi-let office investment to Wyre Forest District Council for £6.10m, reflecting a net initial yield of 6.87%. 

Stratford Court provides 30,694 sq ft (2,851.57 sq m) of open plan office accommodation arranged over ground and two upper floors. The property is let to six tenants producing a total passing rent of £446,842 per annum, equating to a low average rent of £14.05 per sq ft (on the let accommodation). The AWULT to expiry is 5.7 years and 2.3 years to break. Recent letting to S&U Plc completed at a headline rent of £17.00 per sq ft, with a further floor under offer to Cohesion Recruitment at £16.50 per sq ft. the property provides an excellent car parking ratio of 1:229 sq ft. There are numerous asset management opportunities available to an incoming purchaser together with development schemes. There are two development sites (subject to planning) on open land within the ownership boundary.

Contact

Simon Lewis

Tel: 020 7493 3330
Mob: 07831 527 960
slewis@lewisellis.co.uk

David Kos

Tel: 020 7493 3330
Mob: 07709 813267
dkos@lewisellis.co.uk

Fred Daeche-Marshall

Tel: 020 7493 3330
Mob: 07785741700
FDMarshall@lewisellis.co.uk


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