2 Snow Hill Queensway | Birmingham B4 6EP
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2 Snow Hill Queensway
Birmingham B4 6EP
Two Snowhill · Office Property For Sale
Investment Highlights
- WAULT of 7.8 years to expiry and 4.0 years to break
- Opportunity to drive rental performance from the upcoming 6th floor vacancy in 2025
- 92% of the income secured against the investment grade covenants
Executive Summary
Two Snowhill offers a highly attractive blend of secure income and strong asset management potential within a landmark asset, with 92% of the income secured against the investment grade covenants of Gowling WLG and Secretary of State (HS2), with an attractive WAULT of 7.8 years to expiry and 4.0 years to break.
There is exceptional reversionary potential, with average rents offering a close to 30% discount to current prime levels, and the opportunity to drive rental performance from the upcoming 6th floor vacancy in 2025. There are numerous other asset management options including genuine regear prospects, along with near term rent reviews with realistic uplift potential.
Offers are sought in excess of £101,700,000 reflecting a highly attractive net initial yield of 9.00%, improving to 9.44% if the single asset lux co is purchased.
There is exceptional reversionary potential, with average rents offering a close to 30% discount to current prime levels, and the opportunity to drive rental performance from the upcoming 6th floor vacancy in 2025. There are numerous other asset management options including genuine regear prospects, along with near term rent reviews with realistic uplift potential.
Offers are sought in excess of £101,700,000 reflecting a highly attractive net initial yield of 9.00%, improving to 9.44% if the single asset lux co is purchased.
PROPERTY FACTS In Escrow
Sale Type
Investment
Property Type
Office
Tenure
Freehold
Building Size
325,289 SF
Building Class
A
LoopNet Rating
5 Star
Year Built/Renovated
2013/2015
Price
$182,418,293 CAD
Price Per SF
$561 CAD
Cap Rate
9%
NOI
$16,417,646 CAD
Percent Leased
98%
Tenancy
Multiple
Building Height
16 Stories
Typical Floor Size
20,331 SF
Slab To Slab
11’
Building FAR
1.87
Lot Size
4.00 AC
Parking
146 Spaces (0.45 Spaces per 1,000 SF Leased)
Amenities
- Atrium
- Bus Line
- Raised Floor
- Security System
- Kitchen
- Energy Performance Rating - C
- Storage Space
- Bicycle Storage
- Central Heating
- Common Parts WC Facilities
- Direct Elevator Exposure
- Reception
- Shower Facilities
- Wi-Fi
- Air Conditioning
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