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N O.1 COLMORE SQUARE BIRMINGHAM A LANDMARK OFFICE INVESTMENT IN THE HEART OF BIRMINGHAM’S CENTRAL BUSINESS DISTRICT 2 3 N O.1 COLMORE SQUARE BIRMINGHAM ASSET OVERVIEW NO.1 COLMORE SQUARE ONE OF BIRMINGHAM’S MOST PRESTIGIOUS ADDRESSES PRIME TROPHY OFFICE PASSING RENT OF £5,915,251 PER ANNUM No.1 Colmore Square comprises a prime, trophy office asset Multi-let to 5 tenants, producing a total passing rent of £5,915,251 set over ground and nine upper floors. per annum (£5,741,139 per annum net after ground rent deduction), including rental guarantees on the part 3rd floor and 5th floor. GLOBALLY RECOGNISABLE TENANTS Well secured multi-let office investment let to five globally LOW AVERAGE RENT OF £27.79 PSF recognisable tenants. The passing rent reflects a low average rent of £27.79 psf on the office accommodation, with prime rents in the city centre now REMASTERED AND COMPREHENSIVELY REFURBISHED reaching between £33.50-£35.00 per sq ft. The property has been subject to an extensive refurbishment to the 3rd, 5th and 6th floors which also included a brand new reception, new amenities, common areas and M&E. RENTAL PERFORMANCE The fully refurbished vacant space on part 3rd floor and 5th floor provides an excellent opportunity to set new rental levels to support PRIME LOCATION future performance of the asset. One of the most high profile positions in Birmingham overlooking Colmore Square and strategically situated 130m from Birmingham Snow Hill Railway Station and 500m from Grand Central Station, A STRONG WAULT whilst the planned High Speed 2 terminus is within 530m. The investment has an excellent average weighted unexpired lease A Midland Metro extension linking Snow Hill to Grand Central term of 6.7 years on the let space. runs past the western elevation of the property, where there is a stop for the service on Bull Street nearby. LONG LEASEHOLD The property is held long leasehold for a term 250 years from NET INTERNAL AREA OF 202,633 SQ FT 29 September 1999, with a current ground rent of £174,112 The property has a Net Internal Area of 202,633 sq ft (18,828 per annum. sq m), and provides 133 car parking spaces across two sub- basement parking areas, giving a car parking ratio of 1:1,524 sq ft. WIREDSCORE CERTIFICATION No. 1 Colmore Square is Wired Certified Platinum demonstrating FLEXIBLE FLOOR PLATES its best-in-class digital infrastructure and connectivity. Regular floor plates with excellent natural light ranging from 19,131 sq ft to 22,058 sq ft. LEASING WEBSITE www.no1colmoresquare.uk 4 5 N O.1 COLMORE SQUARE BIRMINGHAM INVESTMENT PROPOSAL Offers are invited in excess of £100,000,000 subject to contract and exclusive of VAT, for the long leasehold interest in No.1 Colmore Square. Long leasehold for 250 years from 29 September 1999 (230 years unexpired) with a fixed ground rent based upon the greater of the minimum ground rent being £150,000 or 3% of rents received and reviewed on a five yearly basis by calculating the average rental income over the preceding five-year period (currently £174,112 per annum). A purchase at this level reflects a Net Initial Yield of 5.38%, assuming purchaser’s cost of 6.79%, a capital value of £493.43 per sq ft and an attractive Reversionary Yield of 5.75%. 6 7 8 9 N O.1 COLMORE SQUARE BIRMINGHAM POSSIBLY THE BEST ADDRESS IN BIRMINGHAM Snow Hill Queensway James Watt Queensway LOCATION Ludgate Hill Weaman St 01 Whittall St NO.1 COLMORE SQUARE 08 Birmingham Snow Hill 09 OVERLOOKING THE REMODELLED COLMORE SQUARE, NO.1 COLMORE SQUARE IS SITUATED IN A PROMINENT POSITION AT THE HEART OF BIRMINGHAM’S 11 CENTRAL BUSINESS DISTRICT. Newhall St 07 Corporation St Lionel St 06 Colmore Square 12 The property occupies a prime and high profile position overlooking Looking into the future, No.1 Colmore Square is well positioned Colmore Square. It sits within close proximity to Bull Street Metro to benefit from new upcoming developments in Birmingham. The Station of the recently extended Metro Line, which acts as a fast link Martineau Galleries scheme, which is currently in its planning Great Charles St Queensway between the city’s two major railway stations, Birmingham Snow Hill stage, will act as the new gateway to the Colmore Business District and Birmingham New Street. Birmingham Snow Hill is located only a from the HS2 Curzon Street Station. minutes walk away, whilst Grand Central is approximately 8 minutes walk. The surrounding area of the property is occupied by some of Cornwall St Birmingham’s highest profile occupiers. Nearby companies include Edmund St Great Colmore Square is a prime location situated at the north eastern end RICS, KPMG, RBS, Gowling WLG, Shoosmiths, Barclays, HS2, Western of Colmore Row and to the south west of the Snow Hill development. Wesleyan and PwC. Lionel St 05 Arcade Colmore Square is undoubtedly the most prestigious address in 15 Birmingham 02 Birmingham’s Central Business District. STATION DISTANCE WALK TIME Newhall St Cathedral Colmore Row Snow Hill 125 metres 1 minute Edmund St Bull St No.1 Colmore Square is just a 10 minute walk away from the New Street (Grand Central) 500 metres 8 minutes Dale End forthcoming Curzon Street Terminal of HS2, whilst also well positioned to benefit from the retail and leisure aspects the Central HS2 Curzon Street Terminal 530 metres 10 minutes 03 14 Business District has to offer, being only a short walk away from Bull Street Stop (Metro Line) 75 metres 2 minutes 10 E an abundance of various national and local restaurants. 04 Colmore Row Chamberlain F Square 13 01 02 03 04 05 Birmingham Victoria Temple St Town Hall Square Corporation St Broad St Birmingham Moor St Stephenson St 06 07 08 09 10 Grand Central Suolk St Queensway Selfridges H ill St Birmingham Bullring New Street Shopping Centre 11 12 13 14 15 Street tion Sta 10 11 N O.1 COLMORE SQUARE BIRMINGHAM BIRMINGHAM £1.3 BILLION £110 BILLION 130,000 THE UK’S SECOND CITY INVESTED IN INFRASTRUCTURE REGIONAL ECONOMY JOBS IN FINANCIAL SERVICES SINCE 2010 BIRMINGHAM IS THE UK’S SECOND CITY IN TERMS OF POPULATION SIZE AND IS ALSO THE LARGEST CONTRIBUTOR TO NATIONAL GDP OUTSIDE OF LONDON. 2018 16% 40% NAMED THE UK’S MOST RISE IN RESIDENTS SINCE 2000 - APPROXIMATELY 40% OF The city is at the forefront of the regional economy, being worth Birmingham is fast becoming the most popular alternative to London ENTREPRENEURIAL CITY IN 2018 – NOW THE MOST POPULOUS CITY POPULATION IS UNDER THE AGE approximately £110 billion, and has the largest concentration of for graduates, which is underlined by the city having the second INSTANT OFFICES OUTSIDE OF LONDON OF 25 – THE YOUNGEST AND MOST business of all regional cities, with Birmingham home to approximately highest graduate retention rate in the UK. This is further underlined by DIVERSE POPULATION OF ANY 75,000 companies. living costs within the city being 60% lower than in London, which MAJOR EUROPEAN CITY adds to the already convincing case for Birmingham as an alternative It sits at the centre of the larger Greater Birmingham conurbation, location to the capital. and as a result has the largest regional labour pool in the UK, with 4.3 million people of working age living within one hour’s drive. New Street Station has been transformed into the impressive gateway of Grand Central, the city’s Midland Metro line has also been The increasing inward investment in Birmingham has been rewarded extended, and Birmingham Airport has witnessed further expansion. 65,000 2022 £3 BILLION by a number of major corporations relocating parts of their operations With another £3 billion planned for new projects over the next 10 to the city, including PwC, Barclays, Deutsche Bank, Advanced, year period, including the construction of the HS2 terminal at Curzon UNIVERSITY STUDENTS – SECOND HOST OF THE 2022 PLANNED FOR NEW PROJECTS Beazley Insurance, HSBC, HS2, RICS, WSP, and the General Dental Street Station, Birmingham will further establish itself as a globally ONLY TO LONDON IN TERMS OF COMMONWEALTH GAMES OVER THE NEXT 10 YEARS Council at 1 Colmore Square. Moreover, the city is home to a number integrated business location. NURTURING THE NEXT WAVE OF INCLUDING THE NEW HS2 CURZON of other major corporations with businesses such as Jaguar Land Rover, HIGHLY SKILLED EMPLOYEES STREET TERMINAL Wesleyan, Eversheds Sutherland LLP, Gateley LLP, RBS, Barclays, Investment in the city’s infrastructure also contributed highly to Lloyds, Handelsbanken, Investec, KPMG, Kraft, and Gowling WLG Birmingham’s successful bid to host the Commonwealth Games all having significant headquarter facilities in the region. in 2022. The Games will allow Birmingham to demonstrate its connectivity, inclusivity, diversity and rejuvenation on a global NETWORK INTERNATIONAL COMPANIES HS2 PHASE 1 Birmingham has also established itself as a hub for advanced scale. Located at the heart of the UK, Birmingham is extremely well manufacturing. This sector has benefitted from the city producing positioned to attract people to the Games and the city itself, allowing Heart of the UK motorway road network International companies such as PwC, Reducing time between Birmingham and 25,000 graduates a year. In addition to the graduates produced further opportunity for Birmingham to exhibit its ongoing regeneration Barclays, Deutsche Bank, Advanced, Beazley London to 49 minutes. within Birmingham, there are a further 20 universities within one hour‘s and transformation. Insurance, HSBC, RBS, RICS, Gowling drive of the city, producing an additional 114,000 graduates a year. WLG and WSP Global have all relocated operations to Birmingham 12 13 N O.1 COLMORE SQUARE BIRMINGHAM M90 GLASGOW EDINBURGH M8 M77 BIRMINGHAM CONNECTIVITY M74 EDINBURGH NEWCASTLE UPON TYNE BIRMINGHAM IS A TRULY INTERNATIONAL CITY.