Guildhall Buildings, Navigation Street, Pinfold Street & Stephenson Street, Birmingham, B2 4BT
Franck-Steier Price has recently acted on behalf of the owners in the sale of Guildhall Buildings, a prime office and retail building in the heart of Birmingham city centre.
The substantial period property extends to a total fo 32,442 sq.ft across basement, ground floor retail and 4 upper floors providing cellular office accommodation. The offices were substantially refurbished in 2017 with the majority let on sale.
The property offered various asset management opportunities on the ground floor following the repositioning of the entrance to Grand Central Shopping Centre and New Street Railway Station immediately opposite the property.
The sale price of £12,250,000 represented a net initial yield of approximately 6.65%.