Birchley Park - Birchfield House, Oldbury, WMD

The property comprises a detached two storey office pavilion extending to 16,540 sq ft with 80 ancillary car parking spaces.
The property is located off the A4123 Wolverhampton Road, adjacent to Junction 2 of the M5 motorway and north of Oldbury town centre.

Sale Notes:
The investment opportunity comprises a modern self contained office pavilion arranged over ground and first floors with ancillary car parking.
Offers in the region of £2,800,000 (two million eight hundred thousand pounds) subject to contract and exclusive of VAT for our client’s freehold interest.
A purchase at this level will show a net initial yield of 8.1% assuming normal purchasers costs at 5.8%.
The property is let to Npower Ltd by way of a lease and reversionary lease expiring on 22nd December 2017 at a passing rent of £239,685 per annum with 5 yearly upward only rent reviews.
International Power Plc provided a guarantee under the original lease which expires in December 2012 whilst the reversionary lease is guaranteed by RWE Npower Plc.