The building that houses one of Birmingham’s most iconic music venues has been put up for sale by Birmingham Properties Group.
BPG selling the fully let, freehold three-storey Georgian property, which includes The Jam House, plus adjoining offices at 3 and 5 St Paul’s Square for £3.26m – a yield of 7.25% – via BNP Paribas Real Estate.
The buildings comprise a total of 13,336 sq ft of space and 16 car parking spaces and generate an annual rent roll of £250,120 pa, which equates to £18 per sq ft.
The sale of the building, located in the city’s historic Jewellery Quarter, will not affect the running of the live music venue, which has had a long association with musician Jools Holland, since he helped to launch it in 1999. The building has a further 18 years remaining on its lease, with the adjoining offices having similar leases.
BNP Paribas Real Estate’s Oliver Forster said: “This is a fantastic opportunity to buy a piece of Birmingham history in the city’s popular Jewellery Quarter.
“Not only is this a very attractive building in an old part of the city centre, it is home to a very well-established and successful live music venue and will be sold as a transfer of a business as a going concern.
John Tebbutt, managing director of BPG, said the sale of The Jam House would enable the company to reinvest in other development projects.
