Helix 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.