Auction Venue Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
1 mile west of Birmingham city centre
70 miles south of Manchester
Roads
A38 (Aston Expressway), M5, M6, M42 Motorways
Rail
Five Ways Rail Station (500 metres), Birmingham New Street & Snow Hill Rail Stations
Air
Birmingham International Airport
Situation
Birmingham is the regional centre of the West Midlands and is the UK’s second city in terms of economic output and population. Edgbaston being a significant sub-market clustered around Five Ways. Egbaston is also an affluent residential area containing the Botanical Garens, Edgbaston Cricket Ground and The University of Birmingham. Directly opposite the property is a recently developed retail scheme including Morrisons, Pizza Hut and Starbucks Coffee. Barclays Bank, Dominos Pizza and The Odeon Cinema are all close by.
Tenure
Long Leasehold. Held from The Calthorpe Estate for a term of 149 years from 29th September 1992 expiring in 2141 (126 years) at a current ground rent of £1,500 increasing by £500 every 10 years.
Location
Miles
1 mile west of Birmingham city centre
70 miles south of Manchester
Roads
A38 (Aston Expressway), M5, M6, M42 Motorways
Rail
Five Ways Rail Station (500 metres), Birmingham New Street & Snow Hill Rail Stations
Air
Birmingham International Airport
Situation
Birmingham is the regional centre of the West Midlands and is the UK’s second city in terms of economic output and population. Edgbaston being a significant sub-market clustered around Five Ways. Egbaston is also an affluent residential area containing the Botanical Garens, Edgbaston Cricket Ground and The University of Birmingham. Directly opposite the property is a recently developed retail scheme including Morrisons, Pizza Hut and Starbucks Coffee. Barclays Bank, Dominos Pizza and The Odeon Cinema are all close by.
Tenure
Long Leasehold. Held from The Calthorpe Estate for a term of 149 years from 29th September 1992 expiring in 2141 (126 years) at a current ground rent of £1,500 increasing by £500 every 10 years.
Description
The property comprises a 17 storey office building with flexible floor plates of approx. 390 sq m (4,256 sq ft) each with excellent natural light and panoramic views. The accommodation includes wall mounted radiators, perimeter trunking, secondary double glazing together with two 13-person passenger lifts.
In addition, the property benefits from surface and undercroft parking for some 139 cars.
Six Week Completion
Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a 17 storey office building with flexible floor plates of approx. 390 sq m (4,256 sq ft) each with excellent natural light and panoramic views. The accommodation includes wall mounted radiators, perimeter trunking, secondary double glazing together with two 13-person passenger lifts.
In addition, the property benefits from surface and undercroft parking for some 139 cars.
Six Week Completion
Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Unit
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reviews/(Reversions)
Basement
Office
129.22 sq m
(1,391 sq ft)
VACANT POSSESSION
Ground Floor
Office
184.41 sq m
(1,985 sq ft)
VACANT POSSESSION
Ground Floor Meeting Room
Office
68.00 sq m
(732 sq ft)
VACANT POSSESSION
1st Floor
Office
254.18 sq m
(2,736 sq ft)
ENTERPRISE FOUNDATION
10 years from 25/07/2013 (1)
(24/07/2023)
2nd Floor
Office
407.75 sq m
(4,389 sq ft)
ENTERPRISE FOUNDATION
10 years from 25/07/2013 (1)
(24/07/2023)
3rd to 5th Floors
Office
1,223.24 sq m
(13,167 sq ft)
ENTERPRISE FOUNDATION
Approx 9 years 3 months from 12/04/2014 (2)
£20,000
(24/07/2023)
6th Floor
Office
407.75 sq m
(4,389 sq ft)
VACANT POSSESSION
7th Floor
Office
407.75 sq m
(4,389 sq ft)
VACANT POSSESSION
8th & 9th Floors
Office
815.50 sq m
(8,778 sq ft)
VACANT POSSESSION
10th Floor
Office
395.39 sq m
(4,256 sq ft)
DOUBLE DIAMOND GAMING LTD
5 years from 20/12/2013
£29,792
(19/12/2018)
Part 11th Floor
Office
195.09 sq m
(2,100 sq ft)
VACANT POSSESSION
Part 11th Floor
Office
195.09 sq m
(2,100 sq ft)
BSPAP
5 years from 23/07/2014 (3)
£16,750
(22/07/2019)
12th Floor
Office
395.39 sq m
(4,256 sq ft)
TOWRY SERVICES LTD
10 years from 17/07/2008 (4)
£71,712
(16/07/2018)
13th Floor
Office
241.55 sq m
(2,600 sq ft)
CONNEX
5 years from 11/04/2013
£18,200
(10/04/2018)
Part 13th Floor (North)
Office
153.85 sq m
(1,656 sq ft)
VACANT POSSESSION
Part 14th Floor (North)
Office
111.48 sq m
(1,200 sq ft)
VACANT POSSESSION
Part 14th Floor (South)
Office
135.17 sq m
(1,455 sq ft)
VACANT POSSESSION
Part 14th Floor (Middle)
Office
116.96 sq m
(1,259 sq ft)
COUNTRYWIDE ESTATE AGENTS
5 years from 25/09/2009 (5)
£7,554
(24/09/2014) (5)
Part 15th Floor
Office
244.43 sq m
(2,631 sq ft)
GB PARTNERSHIPS LTD
10 years from 12/12/2013 (6)
£21,302
12/12/2023 (12/12/2023)
Part 15th Floor
Office
138.61 sq m
(1,492 sq ft)
PA CONSULTING SERVICES LTD
3 years from 16/04/2014
£12,690
(16/04/2017)
16th Floor
Office
395.39 sq m
(4,256 sq ft)
3I INFOTECH (WESTERN EUROPE) LTD
10 years from 04/10/2011 (7)
£43,836
04/10/2016 (03/10/2021)
17th Floor
Office
65.59 sq m
(706 sq ft)
VACANT POSSESSION
Ground
Car Parking – 10 Spaces
TOWRY LAW SUPPLIERS & SERVICES LTD
Approx 27 years 6 months from 18/01/1991
£7,000
(16/07/2018)
Totals
6,681.79 sq m
(71,923 sq ft)
£248,836
(1) The leases of the first and second floors to Enterprise Foundation provide an option to determine on 24th July 2019, subject to 6 months’ notice. (2) The lease of the third to fifth floors to Enterprise Foundation provides a mutual option to determine on 28th September 2019, subject to 6 months’ notice. (3) The lease of the Part 11th Floor to BSPAP provides an option to determine on 22nd July 2017 subject to 6 months’ notice. (4) Towry Services Limited have exercised an option to determine on 24th December 2015. (5) Countrywide Estate Agents are currently holding over. A new five year lease at a rental income of £7,554 p.a.x. has been agreed and is due to complete imminently. Further information is available within the legal pack. (6) The lease of the Part 15th Floor to GB Partnerships Ltd provides an option to determine on 11th December 2018. (7) The lease of the 16th Floor to 3I Infotech (Western Europe) Ltd provide an option to determine on 4th October 2016, subject to 3 months’ notice.
