Piccadilly Arcade, Birmingham

1. Strategically positioned at the heart of Birmingham with primary frontage to New Street, the city’s highest footfall area
2. Birmingham commands the UK’s second-largest primary retail catchment and total available spend
3. Birmingham has the 2nd largest primary retail population catchment in the UK totalling 497,612 with a core catchment area of 1,001,753
4. Piccadilly Arcade is located directly adjacent to Birmingham New Street Station and Grand Central metro stop, delivering exceptional visibility, footfall and accessibility
5. The Arcade extends to 23,259 sq ft (2,160.7 sq m) of retail & leisure accommodation arranged as two large leisure units (Clays & Be At One) and 12 boutique arcade units
6. 97% let to 13 tenants, combining established operators with exciting new market entrants
7. Highly reversionary total rent of £626,000 per annum reflects a low average of £43 psf, providing considerable rental growth opportunity
8. Long dated weighted average unexpired lease term of 14.5 years to expiry, 9.1 years to break
9. 81% of total income derived from tenants presenting Low or Very Low risk of business failure
10. Strong near term income growth potential, with 26% of rent subject to review in 2026-2027 and one vacant unit available for letting
11. The Be at One rent (£13.28 psf) is highly reversionary and subject to an outstanding rent review (March 2026). Comparables support rents of up to £50psf for similar leisure units
12. Diverse asset management strategies available through lettings, lease events, rent reviews and further repositioning
13. Freehold

Proposal

We are instructed to seek offers in excess of £5,750,000 subject to contract and exclusive of VAT.

A purchase at this level reflects an attractive net initial yield of 10.21%, assuming standard purchasers costs.