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For SalePOA

Swallowfield One, Oldbury, B69 2AG

Office, Offices , 110686 Sq Ft
Property type: Office, Offices
Tenure: For Sale Freehold
Size: 110686 Sq Ft
Price: POA
Location: Swallowfield One, Swallowfield One, Wolverhampton Road, Oldbury, B69 2AG

Rare opportunity to acquire a headquarters office building with in excess of 10 years unexpired without break


Strategically located in the centre of the Greater Birmingham conurbation, directly adjacent to Junction 2 of the M5 Motorway, providing unparalleled access to the nearby M6 and M42 Motorways, and the national motorway network.

• Fully let to Automobile Association Developments Ltd, with guarantee from AA Plc, a FTSE 250 listed company, with lease expiry in 23 June 2028. This provides an attractive unexpired lease term in excess of 10 years

• Current passing rent of £1,662,785 per annum, which reflects a very low and rebased overall rent of £14.56 per sq ft. Set against the current prime rent in the Greater Birmingham Out of Town markets of £23.00 per sq ft, this provides excellent prospects for future growth

• Freehold

The AA have recently affirmed their commitment to Swallowfield One through a lease renewal on the whole property, taking a coterminous lease over additional parking spaces, and undertaking a refurbishment programme to upgrade the property

A purchase at this level reflects an attractive Net Initial Yield of 6.75% and a low capital value of £208 per sq ft, assuming standard purchaser costs.

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