Retail

Caxtongate, Phase II, 41/42/42a New Street & 36/44 Cannon Street, Birmingham  

 

Price: £16,000,000 - Initial Yield:6.65%

Date: Q2 2011

Acting on behalf of LaSalle Investment Managers we advised on the purchase of this prime multi-let retail investment from Cosgrave Group for £16m, reflecting a net initial yield of 6.65%.

The property comprises an attractive retail block situated in a prime Central Birmingham retail pitch with a total of 33,268 sq ft (3,091 sq m) of accommodation. The property is arranged in large and modern retail units over basement, ground and first floors. There are two floors of residential apartments at 2nd and 3rd floor levels, which have been sold off on a long leasehold basis. The total passing rent for is £1,117,001 p.a, equating to £105-£430 Zone A. 

Contact

Jeff Ellis

Tel: 020 7493 3330
Mob: 07775 582 719
jellis@lewisellis.co.uk


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