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.”