British Airways Pension Trustees is selling the freehold of one of Solihull’s best-known office blocks, Lansdowne Gate, at a guide price of £20.4m, reflecting a net initial yield of 6%.
The 61,000 sq ft building was refurbished in 2015 and is fully let to National Grid Gas and Phoebus Software for a combined passing rent of £1.307m. Almost 75% of the income comes from National Grid, with an average weighted unexpired lease term of 10.4 years across both occupiers.
Located on New Road, the prime property is close to Solihull town centre’s main amenities and train station, with easy access to the M42.
British Airways Pension Trustees is advised by Savills.
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