Birmingham business centre on the market

West Midlands deal makers Siddall Jones have been instructed to sell a major multi-let Birmingham business centre.

BizSpace Business Park, in Bordesley Green Road, has gone on the market for offers based on £1,700,000 which would provide a net initial yield of 10.21%.

Siddall Jones has hit the headlines in the last six months with a string of significant commercial and industrial deals and was recently named Most Active Agent in the West Midlands in the Radius Data Exchange survey produced in conjunction with EG, the commercial property market magazine.

The freehold property situated three miles from Birmingham city centre totals 68,720 sq ft on a site of 3.27 acres. The development has 67 units and currently produces £301,018 in rental with a net income of £183,795 per annum.

Ed Siddall-Jones, managing director of Siddall Jones, said: “This is an investment with significant asset management potential, having low base rents with the potential to increase rents further. It has always maintained a high occupancy level, demonstrating the strength of the property.”