Fujitsu Services HQ, Solihull Parkway, Birmingham Business Park, Birmingham, B37 7YUMake an enquiry
Franck Steier Price has recently completed the acquisition of a single let HQ office and production investment on behalf of Brydell Partners.
The property is located at the entrance to Birmingham Business Park, the region’s largest and most recognised business park location, adjacent to the M42, Birmingham Airport and the future Birmingham Interchange HS2 station.
The detached facility was built in 1991 and comprised a hybrid HQ office facility alongside a production warehouse that housed a repair facility as well as a UK parts storage facility. Fujtsu substantially refurbished the building as part of a sale and leaseback in 2014 investing over £3m into the property.
The property is held freehold and is let to the undoubted covenant of Fujitsu Services ltd on a 10 year lease from April 2014 without break. The passing rent is £1,332,622 per annum with an RPI index linked rent review in 2019, subject to a collar and cap of 2-4%
The property was sold by Allianz Properties Ltd for £18,450,000 which reflected an initial yield of 6.76% and a reversionary yield of 7.50% Savills Birmingham acted for the Vendor.