Property overview

Warwick House, 737 Warwick Road, Solihull, B91 3DG

under offer

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£3,200,000
Mar 2020

The property comprises a prime multi-let office building in the heart of Solihull town centre.  The property has excellent road prominence, adjacent to Mell Square Shopping Centre and direct frontage onto Warwick Road, the main arterial route into Solihull from junction 5 of M42.  The building extends to 15,498 sq.ft and is arranged over ground and four upper floors, with the benefit of 60 car parking spaces (excellent ratio of 1:258 sq.ft).  Two first floor suites are currently vacant.  The WAULT to expiry is 1.7 years.  The total passing rent is £268,415 per annum reflecting an average rent of £17.32 per sq.ft.  50% of the income is secured to Legal & General Home Finance Ltd.  The property has good longer term residential potential.  Offers sought for the freehold interest in excess of £3,200,000 which reflects an attractive net initial yield of 7.88%.