Nelson Bakewell - Birmingham Business Park, The Crescent

Date: 13 Jun 2002

Clients of Henderson Global Investors have sold the freehold interest of Units 2220-2226 The Crescent, Birmingham Business Park, Birmingham. The fund was advised by Nelson Bakewell.

The property comprises a 1990s terrace of four self-contained offices of approximately 598.65 sq m (6,444 sq ft) with 37 car parking spaces. The property is let on four co-terminus leases to Co-operative Bank plc expiring on 10 January 2016. The current passing rent is £129,720 per annum.

The property was purchased by a family settlement for £1,695,000 which reflects a net initial yield of 7.24%. The purchaser was advised by Smiths Gore.

Where do I go now?: » View the latest news items » View the news archive » Subscribe to Weekly Property Newsletter » Submit news