Buyer sought for £19m Solihull office

Clearbell Capital is looking to sell a 146,000 sq ft office building in Solihull for offers over £19m. Savills has been appointed to market Blenheim Court at a net initial yield of 12.7%, a potential revisionary yield in excess of 20%, and a capital value of £130 per sq ft. The property comprises two modern multi-let office buildings, named Radcliffe and Chadwick. Both buildings are arranged over ground and six upper floors, providing 421 car-parking spaces. The scheme is 75% let to 14 tenants at a combined passing rent of £2,576,394 per annum, reflecting a low average passing rent of £23.79 per sq ft across the occupied space. Image from Savills