News Archive

St Modwen sells offices in Birmingham

Redman Heenan Properties Ltd, the investment subsidiary of St Modwen Properties PLC, has disposed of Radclyffe House, Hagley Road, Edgbaston, Birmingham, to Edgbaston Business Centre Ltd, which will operate it as a serviced office business centre.

The 1,838 sq m (19,782 sq ft) three-storey Radclyffe House is currently let to Canon (UK), Portman Travel and Robinson Gear, with some 214 sq m (2,300 sq ft) vacant.

The current rental income is £171,000 and the £1.5 million sale price represents a net initial yield of 10.7%.

For further information contact Alan Williams, of St Modwen on (0121-456-2800). Issued by Paul Raymer of Howle Chapman Raymer (0121-236-7771).