Blenheim Court
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Blenheim Court
2 Office Properties Offered at $19,000,000 in Solihull
Investment Highlights
- Radcliffe has undergone a comprehensive refurbishment in 2024
- Mix of refurbished Grade A accommodation and unrefurbished space
- High quality tenant line up benefiting from a variety of strong covenants
- Property comprises two modern multilet office buildings
- 75% let to 14 tenants at a combined passing rent of £2,576,394 per annum
- Freehold for sale
Executive Summary
Blenheim Court comprises two principle office buildings arranged around a shared car park, communal landscaped areas and a separate grade II listed nursery fronting Warwick Road.
Radcliffe comprises a total of 60,675 sq ft NIA. The ‘T’ shaped office building provides a reception at ground floor and 6 upper floors of Grade A office accommodation. The property can be occupied on a floor by floor basis (c. 10,000 sq ft) or subdivided into single suites ranging from 1,854 sq ft to 5,368 sq ft.
Chadwick comprises a total of 83,483 sq ft NIA of grade A office accommodation arranged over 6 upper floors with an open plan reception and shared meeting rooms on the ground floor. The property benefits from open plan floorplates which extend to circa 14,000 sq ft that can be be sub-divided on a part floor basis.
Based off the passing rent of £2,576,394 per annum, a purchase at this level reflects a Net Initial Yield of 12.70%, allowing for standard purchaser’s costs of 6.74%, a triple net initial yield of 9.05%, a potential revisionary yield to in excess of 20%, and a capital value of £130 per sq ft.
Radcliffe comprises a total of 60,675 sq ft NIA. The ‘T’ shaped office building provides a reception at ground floor and 6 upper floors of Grade A office accommodation. The property can be occupied on a floor by floor basis (c. 10,000 sq ft) or subdivided into single suites ranging from 1,854 sq ft to 5,368 sq ft.
Chadwick comprises a total of 83,483 sq ft NIA of grade A office accommodation arranged over 6 upper floors with an open plan reception and shared meeting rooms on the ground floor. The property benefits from open plan floorplates which extend to circa 14,000 sq ft that can be be sub-divided on a part floor basis.
Based off the passing rent of £2,576,394 per annum, a purchase at this level reflects a Net Initial Yield of 12.70%, allowing for standard purchaser’s costs of 6.74%, a triple net initial yield of 9.05%, a potential revisionary yield to in excess of 20%, and a capital value of £130 per sq ft.
Property Facts
| Price | $19,000,000 | Number of Properties | 2 |
| Price / SF | $130.28 / SF | Individually For Sale | 0 |
| Cap Rate | 12.70% | Total Building Size | 145,836 SF |
| Sale Type | Investment | Total Land Area | 4.58 AC |
| Status | Active |
| Price | $19,000,000 |
| Price / SF | $130.28 / SF |
| Cap Rate | 12.70% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 145,836 SF |
| Total Land Area | 4.58 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
|
Radcliffe House
Blenheim Ct, Solihull B91 2AA |
Office | 60,675 SF | 1971 | - |
|
Chadwick House
Blenheim Ct, Solihull B91 2AA |
Office | 85,161 SF | 1974 | - |
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