Property Auctions 14/Feb/2013 | Building 300, Trinity Park, Brickenhall Lane, Birmingham, B37 7ES

Substantial Highly Reversionary Office Investment

Adjacent to Birmingham Airport
Let on a new 125 year lease until 2138 (subject to option) to a Serviced Office
operator
Highly reversionary let off £2.95/sq ft overall
Includes 190 car parking spaces
Six Week Completion Period Available

Lot 26
Auction 14th February 2013
Rent £125,000 per Annum Exclusive
Status Sold
Price £600,000
Sector
Office
Auction Venue
Millennium Hotel
44 Grosvenor Square
London W1K 2HP

Property Information

Location

Miles: 9 miles south-east of Birmingham city centre
Roads: A46, M42 (Junction 6)
Rail: Birmingham International Railway Station (200 metres)
Air: Birmingham International Airport (500 metres)

Situation

Trinity Park is a modern and busy business park strategically situated within walking distance of the communal entrance to Birmingham International Station, Birmingham International Airport and the NEC. The property is prominently situated at the entrance of Trinity Park.

Tenure

Long Leasehold. Held for a term of 125 year from January 2013 at a current rent reserved of £50,000 per annum exclusive. The head lease provides for the rent to be increasedevery 7th year to 10% of the Estimated Rental Value.

Location

Miles: 9 miles south-east of Birmingham city centre
Roads: A46, M42 (Junction 6)
Rail: Birmingham International Railway Station (200 metres)
Air: Birmingham International Airport (500 metres)

Situation

Trinity Park is a modern and busy business park strategically situated within walking distance of the communal entrance to Birmingham International Station, Birmingham International Airport and the NEC. The property is prominently situated at the entrance of Trinity Park.

Tenure

Long Leasehold. Held for a term of 125 year from January 2013 at a current rent reserved of £50,000 per annum exclusive. The head lease provides for the rent to be increasedevery 7th year to 10% of the Estimated Rental Value.

Description

The property comprises a substantial modern office building with office accommodation on the ground, and three upper floors. The offices are highly specified with raised floors, suspended ceilings and air conditioning. The property benefits from a site area of approximately 0.49 hectares (1.2 acres) providing site coverage of approximately 34% and car park for approximately 190 cars.

VAT

VAT is applicable to this lot.

Viewings

Long Leasehold. Held for a term of 125 years from January 2013 at a current rent reserved of £50,000 per annum exclusive. The head lease provides for the rent to be increased every 7th year to 10% of the Estimated Rental Value.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises a substantial modern office building with office accommodation on the ground, and three upper floors. The offices are highly specified with raised floors, suspended ceilings and air conditioning. The property benefits from a site area of approximately 0.49 hectares (1.2 acres) providing site coverage of approximately 34% and car park for approximately 190 cars.

VAT

VAT is applicable to this lot.

Viewings

Long Leasehold. Held for a term of 125 years from January 2013 at a current rent reserved of £50,000 per annum exclusive. The head lease provides for the rent to be increased every 7th year to 10% of the Estimated Rental Value.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Reviews
Ground First Second Third	Offices, Gym, Café/Restaurant Offices Offices Offices	910.42 sq m 1,093.89 sq m 1,116.09 sq m 806.63 sq m	(9,800 sq ft) (11,774 sq ft) (12,013 sq ft) (8,683 sq ft)	OMNIA TRINITY LIMITED (1) (2)	125 years from January 2013 until 2138 (4) on a full repairing and insuring lease	£125,000	2020 and 7 yearly (3) to 25% of Estimated Rental Value
Totals		3,927.03 sq m	(42,270 sq ft)			£125,000

1) Omnia currently operates several serviced office centres. For more information see www.omniaoffices.com
(2) The tenant has sublet part of the first floor with 25 car parking spaces to Regis Inventory Specialists Limited and the second floor and 39 car parking spaces to
PM Project Services Limited.
(3) The lease provides for the rent to be increased every 7th year to 25% of the Estimated Rental Value of the property.
(4) The lease provides for a tenant option to determine the lease after the 49th year of the lease.