The Midlands office of independent property advisor, GVA has been appointed to find a buyer for Paragon House, in Solihull.
Situated on Homer Road in Solihull town centre, Paragon House extends to 97,021 sq ft (9,013 sq m), and occupies an enviable position both within the office core and adjacent to the Touchwood shopping complex.
The UK headquarters of the Paragon Group of Companies Plc, Paragon House provides an unexpired lease term of approximately 5.5 years at an annual rent of £2.4 million.
Greg Judd, Senior Director in GVA’s Restructuring and Recovery team has been appointed as Joint LPA Receiver over the property. He said: “Paragon House is in an outstanding location, with direct access to both the town’s retail and transport provisions.
“Solihull already has an outstanding reputation for retention of blue chip businesses and with the promised extension to Birmingham Airport’s runway, the expansion of Jaguar Land Rover and the proposed HS2 line, its desirability as a key office location will continue to grow.”
Paragon House is being sold on a freehold basis by GVA’s dedicated Investment team, with offers invited in the region of £18,900,000.
Jonathan Hillcox, Director, Investment, said: “Paragon House is a unique opportunity – a quality asset producing a high return in a market with limited deliverable stock.”
Widely regarded as one of the West Midlands’ most desirable office, retail and residential locations, Solihull is an affluent town located nine miles from Birmingham and 13 miles from Coventry.
Solihull is located at the centre of the national motorway network, with Junction 6 of the M42 just one mile away, linking to the M5, M6 and M40 motorways. The town is also served by two railway stations that provide regular services to London.