Multi-let business centre up for sale

A multi-let Birmingham business centre is up for sale.

BizSpace Business Park in Bordesley Green Road has gone on the market for offers based on £1.7m which would provide a net initial yield of 10.21%.

The freehold property situated three miles from Birmingham city centre totals 68,720 sq ft on a site of 3.27 acres.

The development has 67 units and currently produces £301,018 in rental with a net income of £183,795 a year.

Siddall Jones has been instructed to sell the site.

Ed Siddall-Jones, managing director of Siddall Jones, said: “This is an investment with significant asset management potential, having low base rents with the potential to increase rents further.

“It has always maintained a high occupancy level, demonstrating the strength of the property.”