Fujitsu has appointed Colliers International to advise on a sale and leaseback of its offices on Birmingham Business Park, on Solihull Parkway, West Midlands.
The IT services provider is seeking £16.5m for the 116,418 sq ft building, reflecting a net initial yield of 7.58%
The building sits on a 10-acre site and Fujitsu pays an annual rent of £1.3m. A deal would see a new 10-year lease agreed with a rental increase to £1.5m after five years.
Birmingham Business Park is owned by Canmoor, which acquired the park last November in a wider acquisition from Arlington Business Parks.
lisa.pilkington@estatesgazette.com
