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Helix sells Paragon Head Quarters Solihull for £6.050m

wantspacegotspace.co.uk - Helix sells Paragon Head Quarters Solihill for £6.050mHelix Property Advisors Limited has sold the freehold interest in Earlswood Court, Highlands Road, Solihull to LA-based Karlin Real Estate for £6,050,000, reflecting a net initial yield of 11.65%.

The prime, high-spec, two-story office building comprises 41,363 sq ft (3,843 sq m) on a 2 acre (0.8 hectare) site, with 153 car parking spaces. Located in Cranmore, a well established business location, with good transport links, the property is let to Paragon Finance plc on a 16-year lease from 2002 at an annual rent of £746,190 (£18.04 per sq ft / £194 per sq m).

Fineman Ross advised Helix and CBRE Birmingham advised Karlin Real Estate.

Posted by The Editor (wantspacegotspace) on 19th November 2013

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