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| PRIORY
& CANNON; BIRMINGHAM |
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The property, which comprises over 300,000
sq. ft. was acquired in June 2004 for £43,250,000.
The property fronts Priory Queensway straddling both Colmore Circus and
Colmore Square and comprises a former flatted warehouse which has subsequently
been converted to offices.
The building is situated within the City’s premier office address
being close to Colmore Row, which is adjacent to other major companies
such as Wragge & Co, Direct Line Insurance, Pinsent Curtis and the
Weslyan Assurance Society.
The building is let to three major office occupiers, being The Royal
Bank of Scotland, Charles Schwab Limited and the Secretary of State for
the Environment. The ground floor is let to 12 retailers of varying sizes
including Trailfinders and Lloyds TSB.
The acquisition of Priory & Cannon House is an extremely rare opportunity
to acquire a significant holding within Birmingham’s central core,
which provides unbroken floor plates of 40,000 sq. ft.
The original structure of the building provides huge floor to ceiling
heights which would allow us to refurbish the accommodation as and when
space becomes vacant to provide not just suspended ceilings, but also
a floor void sufficient to take even the most complex of cabling. Furthermore,
the structure will allow the construction of up to three further floors
on the existing roof .
The building also comes with basement car parking, having 150 car parking
spaces.
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