Fujitsu Services HQ, Solihull Parkway, Birmingham Business Park, Birmingham, B37 7YUMake an enquiry
Franck Steier Price has recently completed the acquisition of Fujitsu’s headquarters’ building at Birmingham Business Park on behalf of an institutional investor.
The property is located at the entrance to Birmingham Business Park and comprises a 116,418 sq.ft office and production facility constructed in the 1990s.
The property was sold by sale and leaseback for a term 10 years from April 2014 to Fujitsu Services Ltd at a commencing rent of £1,332,622 per annum. The lease is held on full repairing and insuring terms subject to a rent review on expiry of the 5th year to compounded RPI collared at 2% and capped at 4% per annum.
The purchase price of £17,650,000 reflected a net initial yield of 7.14% after purchaser’s costs of 5.80%.
Fujitsu was represented by Colliers International.