Allsop has advised Stoford Ventures Limited on the sale of The Stock Exchange building, a newly refurbished historic building in the city’s core, for £7.95 million, representing a net initial yield of 6.40%.
The 1920s landmark property, which is let to EFG Private Bank for 15 years, has been purchased by Capital Trust following the completion of a £1.85 million refurbishment programme to upgrade the offices to provide Grade A accommodation.
Scott Tyler, Partner at Allsop , said: “The Stock Exchange building is a striking asset in a core city centre location with a long lease to an excellent covenant. The investment was of particular interest to Private and overseas investors scouring the market for rare secure investments . The price reflects the scarcity of secure long leased stock .
The Stock Exchange – 33 Great Charles Street, Birmingham – comprises 24,825 sq ft of Grade A offices set over five storeys and is in a conservation area . The reception incorporates a double height reception area and an impressive former stock exchange hall which has been converted into meeting rooms, whilst retaining many historical features.
Knight Frank acted on behalf of the purchaser Capital Trust
Notes to editor
Allsop is an independent property consultancy with a market-leading reputation for high quality service, integrity and innovation. We are also well known as the UK’s largest and most successful auction house. Our success is built on over 100 years’ experience in commercial and residential property consultancy and sales.
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