Birmingham City Centre retail parade comes to market at £3.8 million

23 February 2017

Birmingham Properties Group, represented by international real estate advisor Savills, has brought to market a retail and leisure parade near Birmingham New Street Station for £3.8 million, reflecting a net initial yield of 6.77%.

The asset comprises five ground floor units within the Orion Building, which are fully let to Sainsbury’s, Subway, Alno Kitchens, The Stable and Tamatanga for a combined passing rent of £274,163.  The average unexpired lease term to expiry is circa 12 years.

Located on Navigation Street, the parade sits within one of the main access links between New Street Station and The Mailbox.   The surrounding area has been transformed by recent redevelopment works related to Grand Central Shopping Centre, which opened in 2015. 

Matt Jenns, associate in the investment team at Savills, comments: “This is a rare opportunity to acquire a prominent city centre retail investment adjacent to the recently completed Grand Central at Birmingham New Street Station.  We are therefore anticipating strong market interest.”

 
 

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