Taylor Clark has sold Building One, the 2,239 sq m (24,000 sq ft) first phase of the Aqueous office development in Birmingham, for £4.225m to clients of Hill Samuel at a yield of just over 8%.
Following the sale, Taylor Clark is set to start on the 5,945 sq m (64,000 sq ft) second and third phases of the development, off the A38 (M) Aston Expressway. It will build one 3,250 sq m (35,000 sq ft) office block and a 2,760 sq m (29,730 sq ft) serviced office centre.
Building One is let to Barclays Bank and Computacenter on 15 and 10 year terms respectively at a current total income of £362,000 per annum.
DE&J Levy advised Taylor Clark.
EGi News 29/07/97
