The multi-let 126 Colmore Row office building in Birmingham has hit the market with a price tag of more than £2.55m. The sale price reflects a net initial yield of 8.55%.
The period property, which offers 7,000 sq ft of office space on the first to fifth floors and 2,653 sq ft of leisure space on the ground floor and basement let to Jamaican restaurant Jamaya, has been comprehensively refurbished.
The building dates back to the early 1900s and was designed by acclaimed Birmingham architect Samuel Nathaniel Cooke.
Mark Rooke, a director in MK2’s property investment team, which has been instructed to market the building on behalf of a private landlord, said: “It’s not often that buildings on Colmore Row, Birmingham’s most prestigious address, come up for sale and especially not ones with such a rich history and heritage as 126 Colmore Row. Not only does the building offer bags of character, for savvy investors it provides significant asset management and leasing opportunities, with a number of floors still available to let.”
