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Swallowfield One

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Wolverhampton Road
B69 2AG Oldbury
Ref: 12272

  • 110,686.00 ft² (10,283.06 m²)
  • Price on application

Description

Description

• Rare opportunity to acquire a headquarters office building with in excess of 10 years unexpired without break

Investment Summary

• Swallowfield One comprises a modern four storey Headquarters office building with impressive central feature atrium, constructed in 2003, providing a total net internal floor area of 10,283.20 sq m (110,686 sq ft). 734 car parking spaces provide an unrivalled car parking ratio of 1:151 sq ft

• Fully let to Automobile Association Developments Ltd, with guarantee from AA Plc, a FTSE 250 listed company, with lease expiry in 23 June 2028. This provides an attractive unexpired lease term in excess of 10 years

• Current passing rent of £1,662,785 per annum, which reflects a very low and rebased overall rent of £14.56 per sq ft. Set against the current prime rent in the Greater Birmingham Out of Town markets of £23.00 per sq ft, this provides excellent prospects for future growth

• Freehold

The AA have recently affirmed their commitment to Swallowfield One through a lease renewal on the whole property, taking a coterminous lease over additional parking spaces, and undertaking a refurbishment programme to upgrade the property

Proposal

We are instructed to seek offers in excess of £23,075,000

A purchase at this level reflects an attractive Net Initial Yield of 6.75%

Location

Location

Strategically located in the centre of the Greater Birmingham conurbation, directly adjacent to Junction 2 of the M5 Motorway, providing unparalleled access to the nearby M6 and M42 Motorways, and the national motorway network.

Energy Rating

Energy Rating

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Contact

Contact
  Details

JLL for themselves and for the vendors or lessors of this property whose agents they are, give notice that:

  1. The particulars are set out as a general outline only for guidance and do not constitute, nor constitute part of, an offer or contract;
  2. All descriptions, dimensions, references to condition and necessary permissions for use and occupation, and other details are believed to be correct, but any intending purchasers, tenants or third parties should not rely on them as statements or representations of fact but satisfy themselves that they are correct by inspection or otherwise;
  3. No person in the employment of JLL has any authority to make or give any representation or warranty whatever in relation to the property;
  4. Any images may be computer generated. Any photographs show only certain parts of the property as they appeared at the time they were taken.

For properties in Scotland:

  1. This correspondence is expressly subject to completion of formal legal missives in accordance with Scots Law.

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