Prime Solihull town centre office comes to market at £20.4 million

10 March 2017

British Airways Pension Trustees Limited, represented by international real estate advisor Savills, has brought to market the freehold of Lansdowne Gate in Solihull at a guide price of £20.4 million, reflecting a net initial yield of 6%.

The 60,999 sq ft (5,667 sq m) office building was comprehensively refurbished in 2015 and is fully let to National Grid Gas Plc and Phoebus Software Limited for a combined passing rent of £1.307 million.  Almost 75% of the income comes from National Grid, with an average weighted unexpired lease term of 10.4 years across all occupiers.  Located on New Road, the property is close to Solihull town centre’s main amenities and train station, with easy access to the M42.

Stephen Benson, investment director at Savills Birmingham, comments: “This is a rare opportunity to acquire a high quality office building with a secure income stream in Solihull town centre and we are therefore anticipating strong investor interest.”

 
 

General Enquiries

Savills Margaret Street

 

Key Contacts

Stephen Benson

Stephen Benson

Director
Agency (Investments)

+44 (0) 121 200 4578

 

Ned Jones

Ned Jones

Director
Investment

Savills Birmingham

+44 (0) 121 634 8415