Birmingham, United Kingdom
Property type: Commercial
Est Total Area (sqft): 22,000
Est £/sqft: 220
Est Net Yield: 6%
Available in SPV purchase
Fee Structure: None Buy-Side
Location – Bradford Court, 123-131 Bradford Street, Birmingham.
Located in Deritend, also nowadays under the classification of Digbeth,
literally a stones throw away from the city centre. Walking distance to
all the cultural and civic amenities, shopping, entertainment venues it
has to offer.
It is also on the fringes of Digbeth, and is situated on the street
directly behind Digbeth High street, which was recently named the
‘coolest neighbourhood in Britain’ by the Sunday Times, and offers a
thriving cultural and creative scene including independent shops,
cinemas and arts venues and a vibrant night-time economy.
The building is set over 4 floors with 22,000sqft of net letable
area, including a courtyard and a car park.
Currently generates just over £380k per annum at 85% occupancy (ERV
estimated to be £450k) with
2-3 of those with a “lease under the act” agreement which I’ve been
informed each of those would be no more than 2 year leases.
The vendor had planning granted for 36 units last year.
This asset has huge potential for improvement through conversion or other means.