Paul Bassi’s Real Estate Investors is selling the freehold of 85-89 Colmore Row in the heart of Birmingham’s central business district.
The AIM-listed UK property investor wants £7.7m for the 24,860 sq ft multi-let building – a yield of 6.5%. The annual rent roll is £528,451.
The listed building occupies a prime location at the junction of Colmore Row and Newhall Street and sits opposite 103 Colmore Row – known locally as the NatWest Tower – which is under offer to Sterling Property for circa £15m.
Knight Frank is advising REI on the sale. Birmingham office head, Ashley Hudson, said it was the right point in the current property cycle to sell. “The 85-89 Colmore Row property presents a rare opportunity to acquire a prestigious freehold office building in a 100% prime location in Birmingham city centre.”
Tenants include Fleetmilne (Birmingham), LG Properties UK and The Royal College of Surgeons. The building has just over 8,000 sq ft of space available.
lisa.pilkington@estatesgazette.com
