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24-25 Union St - City Arcade
8,335 SF Retail Condo Unit Offered at $632,903 in Birmingham B2 4TX
Investment Highlights
- A rare opportunity to acquire Birmingham City Council’s interest which hasn’t come to the market in 150 years.
- Multi let to three tenants with a substantial vacant unit for refurbishment/repositioning.
- The scheme is situated in the heart of Birmingham City Centre. City Arcade is surrounded by Birmingham’s key business community and is located in the
Executive Summary
City Arcade is situated just off Corporation Street, home to House of Fraser and multiple other national retailers. The Arcade is strategically located close to the three primary retail pitches in Birmingham; 100m from New Street, 120m from the High Street and 200m from Grand Central which in turn leads to the Bullring Shopping Centre. The Pitch The property is located adjacent to Martineau Place and within close proximity of Hammerson’s proposed Martineau Galleries; a regeneration of The Square Shopping Centre and Dale End (High Street) car park including up to 1,300 new homes, up to 130,000 sq m of workspace, restaurants, cafes, shops, and a new 200 bed city centre hotel.
Property Facts
| Price | $632,903 | Sale Type | Investment |
| Unit Size | 8,335 SF | Building Class | C |
| No. Units | 1 | Floors | 5 |
| Total Building Size | 16,284 SF | Typical Floor Size | 3,256 SF |
| Property Type | Retail (Condo) | Year Built | 1900 |
| Property Subtype | Storefront | Lot Size | 0.11 AC |
| Price | $632,903 |
| Unit Size | 8,335 SF |
| No. Units | 1 |
| Total Building Size | 16,284 SF |
| Property Type | Retail (Condo) |
| Property Subtype | Storefront |
| Sale Type | Investment |
| Building Class | C |
| Floors | 5 |
| Typical Floor Size | 3,256 SF |
| Year Built | 1900 |
| Lot Size | 0.11 AC |
1 Unit Available
Unit 2-5
| Unit Size | 8,335 SF | Sale Type | Investment |
| Price | $632,903 | Tenure | Freehold |
| Price Per SF | $75.93 | Cap Rate | 12.61% |
| Condo Use | Retail | NOI | $79,809.12 |
| Unit Size | 8,335 SF |
| Price | $632,903 |
| Price Per SF | $75.93 |
| Condo Use | Retail |
| Sale Type | Investment |
| Tenure | Freehold |
| Cap Rate | 12.61% |
| NOI | $79,809.12 |
Description
The property includes four retail units with ancillary uppers
comprising a total area of 774 sq m (8,335 sq ft)
Sale Notes
We are instructed to seek offers in excess of £500,000 (Five Hundred Thousand Pounds) reflecting a net initial yield of 12.61%, a low capital value of £60 per sq ft assuming standard purchasers' costs of 4.70%. 1 unit is currently vacant, providing immediate reversionary opportunity.
Amenities
- Enclosed Mall
- Storage Space
Nearby Major Retailers
-
Damian Lloyd -
DUpe Luca Scimeca -
Avison Young
Presented by
24-25 Union St - City Arcade
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