Office

Latham House

33-34 Paradise St, Birmingham, West Midlands, B1 2AJ, UK

Latham House_Property for Sale

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Latham House 2_Property for Sale

Asset Description

Latham House is an elegant Birmingham City Centre building, with exceptional development and alternative use potential, with vacant possession achievable in December 2023.


The impressive Edwardian baroque stone facade with frontage to Paradise Street was designed by renowned architect A Gilbey Latham.


The property comprises of 23,653 sq ft of commercial accommodation arranged over basement, ground and six upper floors. The typical floorplate is c. 4,000 sq ft.


Floors are capable of being refurbished to the latest Grade A office specification, or refurbished and sub-divided to create a residential, student or hotel scheme, subject to planning.

Attributes

Asking Price
€4,519,000
Building area gross
1,238 m²
Occupancy
65.00%
Year built
1911

Investment Highlights

Latham House is a rare opportunity to acquire an elegant Birmingham City Centre building, with exceptional development and alternative use potential. Vacant possession is achievable in December 2023.

 

  • Situated in a prime position in Birmingham city centre, overlooking the Paradise scheme immediately opposite, and in close proximity to the city’s civic heart
  • Superb connectivity, being situated immediately adjacent to Town Hall Metro stop, and within a 5-minute walk of Birmingham New Street Station
  • Exceptional development and alternative use potential, with vacant possession achievable from December 2023
  • Scheme options include delivery of a comprehensively refurbished office scheme, or exploring alternative uses including residential, student housing or hotel, subject to planning
  • Birmingham benefits from strong office and residential market dynamics, with an immediate lack of supply in both markets, fueling growth in rents and sales values
  • 2,476 sq m (26,653 sq ft) of commercial accommodation arranged over basement, ground, and six upper floors, with 14 basement car parking spaces
  • Freehold, not listed and outside conservation area
  • The property benefits from an elegant and attractive period façade, a large entrance reception/lobby and generous common circulation areas
  • Let to four tenants – Davies & Partners Solicitors, Hortons Estate, Sir Robert McAlpine and BAM Construction (under offer) on short term tenancy arrangements, with 9,099 sq ft vacant over three floors, offering a clear route to vacant possession in December 2023
  • Attractive short-term income, with a total current gross rent of £278,358.00 pa, reducing to £203,070 pa accounting for costs associated with all-inclusive tenancies, prior to the deduction of any relevant holding costs associated with the vacant space


We are instructed to seek offers in excess of £4,000,000 subject to contract and exclusive of VAT.


A purchase at this level reflects an attractive low capital value of £150.08 per sq ft.

Latham House 4_Property for Sale
Latham House 4_Property for Sale

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Last updated
9 Feb 2023