St Modwen Properties PLC has sold a major office building on its Quinton Business Park , Birmingham.
The three-storey 33,000 sq ft office building let to Business Link West Midlands has been acquired by Advantage West Midlands for £6.5 million, representing an initial yield of approximately 6.35 %.
The building is highly visible from the M5 by Junction 3 and enjoys the benefits of Quinton Business Park¹s unrivalled location by that junction and with good access to Birmingham City Centre via Hagley Road.
St Modwen has completed three phases of development comprising nine buildings totalling approximately 150,000 sq ft on the 18-acre business park which is the most prominent business park on the west side of Birmingham.
With two occupational transactions in solicitors hands there is only 20,000 sq ft of existing space remaining in suites from 3,000 sq ft in one building and a self-contained 10,000 sq ft building. A further five acres is available for speculative development phases or bespoke buildings.
DTZ acted for St Modwen. AWM was represented by Gerald Eve.
For further information contact Peter Rudd of St Modwen (0121 313 1000).
Issued by Paul Raymer of Howle Chapman Raymer (0121 313 1000).