AcquisitionUK Regional
61-65 New Street, Birmingham
Acquisition of 61-65 New Street, Birmingham, B2 4DU
- Nightingale Partners represented Consolidated Property Group in the purchase of this prime freehold mixed use block on New Street, Birmingham.
- The property comprises four ground floor retail units with 4 upper floors of offices. The majority of the offices are let to the NHS (at c£17.00 psf), and the first floor is currently vacant with he opportunity to refurbish and re-let at a significantly higher rent.
- The property was acquired off market for circa £9.5million, reflecting a net initial yield of c7.75% and a capital value per sq ft of c£240
