Birmingham, B3 2AP LISNEY

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Birmingham, B3 2AP LISNEY 79-83 Colmore Row | Birmingham, B3 2AP LISNEY | +44 2890 501 501 | www.lisney.com INVESTMENT SUMMARY 79-83 Colmore Row | Birmingham, B3 2AP • A rare opportunity to acquire a Landmark city centre office building with refurbishment potential. • Net internal area of 27,789 sq.ft. arranged over basement, ground and 6 upper floors. • Fully Let to Royal Bank of Scotland Plc expiring June 2020. • Low passing rent of £533,150 p.a. • 10 under croft parking spaces. • Excellent location in Birmingham’s prime office core. • Offer invited in excess of £8,500,000 reflecting 5.88% after purchasers costs of 6.68% and a low capital value per square foot of £305. 79-83 Colmore Row | Birmingham, B3 2AP 79-83 Colmore Row | Birmingham, B3 2AP LOCATION NEW J OHN STREET WEST Birmingham is the UK’s second Greater Birmingham conurbation has a population of circa 2.45 million (2017 largest city with a population of estimate). As a result, Birmingham has the largest regional labour pool in the Y A W over 1.1 million, strategically T UK, with 4.3 million people of, working age living within an hour’s drive of S S EE E located in the centre of the country. the city centre. R TR P S X E D L N O The city has a workforce of 530,800, Birmingham, Accounting for around 40% NIE K ST A I boosted by net in-commuting of 65,650 of the UK’s conference and exhibition people each day. Birmingham’s £24.8 trade each year. A4540 billion economy sits within the wider University of Aston Midlands economy of £222 billion, The city is an established business, St Paul’s Y making it the UK’s largest regional professional and financial services A Square W S N hub and a key centre for advanced E economy. E Y U Q T SNOW HILL manufacturing and life sciences, E Y WA E E R L T T D S S The UK’s second city is experiencing benefiting from the second highest LL MID LES D R ET continued growth and investment. graduate retention rate in the UK. A E O CORNWA N O E D STR CH W N OW W T HAL L STR U R The city is home to five universities – Y A M T RE D S ED D RE MO OW R R A G E COL E Birmingham is a popular commercial including the University of Birmingham, W ET ET St Philip’s PL E ED R CURZON STREET C Council Place A TEM M centre with the city’s strong economic B House ON ST one of the elite Russell Group. RI I D G Library of E Victoria RAT ST Birmingham O performance in recent years placing it as Square P Arena The Paradise OR Birmingham Rep Town C No.1 in the UK for new business start-ups, With over £1.3 billion spent on Centenary Hall Square MOOR STREET quality of life and investment prospects infrastructure since 2010 and another ICC S HEEP B outside of London. £3 billion planned for new projects over R ST IDG S C Arena U ION NEW STREET O T E T T E S Central F IGA E BRINDLEYPLACE E F V Grand Central the next decade, including HS2, the TRE NA S R O T T R ET LK Bullring E S E T D S Birmingham is also the highest ranked city benefits from a globally integrated A GA T O S HI S R LL TR E BR EE Mailbox E S EET TREE TON STR regional city for both international transport system. T T EDGBAS DY T exports with companies such as Deutche, W P OO E R S D M H O HSBC, Cadbury’s, Dunlop, Jaguar Land The city boasts 5 Michelin starred T R I The L S E S D IA DLE Cube C T R REE Rover and MG Rover all represented in restaurants, a vibrant retail scene, Y OMME W C T the city, and business tourism with the excellent entertainment venues and top AY A MAP KEY 3 National Exhibition Centre, International sports facilities with the Commonwealth Broadway 8 Railway Stations Plaza Five BR Metro Stops Convention Centre and Arena Games coming in 2022. BAT H ROW Ways I S T Metro O AGL E Y R OAD L H Metro Extension opens 2019 S T R Future Metro Extension E E BIRMINGHAM IS PROVING POPULAR WITH PROFESSIONALS T Railway Lines FIVEWAYS Canals HS2 Route RELOCATING FROM LONDON DUE TO THE HIGHER QUALITY OF LIFE BENEFITS AND LOWER LIVING COSTS. BUSINESS AND LIVING COSTS IN THE CITY ARE 60% LOWER THAN IN THE CAPITAL, PROVIDING A COMPELLING CASE FOR BUSINESSES TO INVEST AND PEOPLE TO RELOCATE. LISNEY | +44 2890 501 501 | www.lisney.com LISNEY | +44 2890 501 501 | www.lisney.com 79-83 Colmore Row | Birmingham, B3 2AP SITUATION The Building occupies a highly prominent position within Birmingham’s Central Business District. The property is situated on Colmore Row at the western side of Cathedral Square close to its junction with Newhall Street. The building’s prime location offers offer high quality immediate amenity provision one of Birmingham’s most sought after complementing the Central Business District office addresses in a period property function. overlooking the picturesque Cathedral Square. Surrounding landmark buildings include One, Two and Three Snowhill, with the adjacent, One Colmore Row has excellent access to & Two Colmore Square, Colmore Gate, the Birmingham’s public transport infrastructure recently refurbished Grand Hotel, Birmingham with the Midland Metro tram system running in Cathedral, Council House and Town Hall. close proximity to the property, accessible at the Bull Street stop. Mainline rail services are The Building is situated within the Colmore also in close proximity, with Snowhill Railway Business District (CBD), the area houses Station and New Street close by. The new HS2 Birmingham’s premier concentration of station at Birmingham Curzon Street will be professional and business service companies, built on the eastern side of the city with around 500 companies located in the Centre within walking distance of the property. District, employing up to 35,000 people and encompassing approximately 520,240 sq m (5.6 The surrounding area comprises high profile million sq ft) of office space. modern office developments, with a multitude of retail and bar /restaurant facilities that LISNEY | +44 2890 501 501 | www.lisney.com 7 8 3 2 1 6 10 4 12 9 5 11 1. St Philip’s Cathedral 7. University College Birmingham 2. New Street Station/Grand 8. BT Tower Central 9. Bull Street Station 3. Victoria Square 10. Corporation Street Station 4. Snow Hill Station 11. The Square Shopping Centre 5. Colmore Building 12. The Bullring 6. Grand Hotel 79-83 Colmore Row | Birmingham, B3 2AP 79-83 Colmore Row | Birmingham, B3 2AP DESCRIPTION The front portion of the property The ground floor is split to accommodate the reception area and lift lobby for is Grade II listed, the rear was the offices to one side and the banking hall to the other. developed in 1989 to provide modern office accommodation. To the rear of the building a 10 space Internally the office area accommodation The property is arranged over under croft car park is accessed via includes suspended ceilings, raised basement, ground and 6 upper double width roller shutter door. access flooring, integrated lighting, air floors. conditioning and 2x. no 13 person lifts. Tenancy ACCOMMODATION The property is let in its entirety to Royal Floor GIA (Sq M) GIA (Sq Ft) NIA (Sq M) NIA (Sq Ft) Bank of Scotland Plc on full repairing Basement 679 7308 N/A N/A and insuring terms. The lease is their 2nd Ground 567 610 3 426 4585 in the property having originally taken occupation in 1990. This lease was 1 399 4294 302 3250 renewed in 2015 for a further 5 years 2 543 5844 422 4542 expiring 24 June 2020. 3 543 5844 421 4 531 The Royal Bank of Scotland Plc is part 4 543 5844 418 4499 owned by the UK government and the 5 437 4703 298 3207 organisation employs over 90,000 6 383 412 2 295 3175 people within the wider group with a Net Total 4094 44062 2582 27789 Worth of over £7.5bn. LISNEY | +44 2890 501 501 | www.lisney.com LISNEY | +44 2890 501 501 | www.lisney.com 79-83 Colmore Row | Birmingham, B3 2AP 79-83 Colmore Row | Birmingham, B3 2AP GALLERY LISNEY | +44 2890 501 501 | www.lisney.com LISNEY | +44 2890 501 501 | www.lisney.com 79-83 Colmore Row | Birmingham, B3 2AP 79-83 Colmore Row | Birmingham, B3 2AP LISNEY | +44 2890 501 501 | www.lisney.com LISNEY | +44 2890 501 501 | www.lisney.com 79-83 Colmore Row | Birmingham, B3 2AP THE FRONT PORTION OF THE PROPERTY IS GRADE II LISTED, THE REAR WAS DEVELOPED IN 1989 TO PROVIDE MODERN OFFICE ACCOMMODATION. THE PROPERTY IS ARRANGED OVER BASEMENT, GROUND AND 6 UPPER FLOORS. LISNEY | +44 2890 501 501 | www.lisney.com 79-83 Colmore Row | Birmingham, B3 2AP 79-83 Colmore Row | Birmingham, B3 2AP OFFICE OCCUPATIONAL MARKET Birmingham continues to be Office uptake thorough 2018 totalled over 750,000 sq ft surpassing the 10 transformed through significant year average of 730,000 and followed a particularly strong 2017 exceeding 1m infrastructure Investment sq.ft., with a relative scarcity of current grade A office supply, the delivery of enhancing its external profile the next generation of new build developments completing at Three Snowhill internationally combined with and Chamberlain Square, Paradise will likely be well received.
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