One Quinton Business Park

1. One Quinton Business Park is strategically positioned in West Birmingham, adjacent to Junction 3 of the M5 at the heart of the UK motorway network
2. Located on the highly successful Quinton Business Park, home to high-calibre corporate and government occupiers including National Highways, the Independent Office for Police Control (IOPC), Lindner Prater and Lovell Partnerships
3. High quality office building constructed in 2004 with extensive refurbishments undertaken by the occupier
4. Extending to 23,154 sq ft (2,151 sq m) arranged over ground and first floors, with EPC B (32) rating
5. Single let to National Highways Ltd, who have been in continuous occupation since 2004 and recently signed a new 15-year FRI lease commencing 31st March 2025 with a tenant break option at year 10
6. Unexpired lease term of 14.2 years to expiry, 9.2 years to break
7. National Highways Ltd offer an undoubted covenant, being an executive non-departmental public body underwritten by the Department for Transport
8. Highly reversionary current passing rent of £372,500 per annum, reflecting a very low £16.30 psf, subject to five-yearly upward-only open market rent reviews
9. The building serves as a mission critical National Highways’ facility, home to the West Midlands Regional Operations Centre, used to manage and control the region’s motorway network
10. National Highways occupy a further two buildings on the park, one of which provides the National Operations Centre for the organisation
11. The lease includes 100 designated car parking spaces, providing an attractive ratio of 1:232 sq ft
12. Long leasehold for 150 years from 24th June 2002 at a peppercorn rent, with 126 years unexpired

Proposal

We are instructed to seek offers in excess of £4,115,000 (Four Million One Hundred and Fifteen Thousand Pounds) subject to contract and exclusive of VAT.

A purchase at this level reflects an attractive net initial yield of 8.50% assuming standard purchaser’s costs, and a low capital value of £178 per sq ft.