Landmark M5 Corridor Investment & Development Opportunity
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Intersection House, 110-120 Birmingham Road, West Midlands B70 6RP Landmark M5 Corridor Investment & Development Opportunity HOME INVESTMENT SUMMARY LOCATION CONNECTIVITY DESCRIPTION ACCOMMODATION, SITE & TENURE PLANNING CONSIDIRATIONS TERMS 1 →
Intersection House, 110-120 Birmingham Road, West Midlands B70 6RP
Investment Summary
• Located on a gateway site at Junction 1 of the M5 Motorway • Approximately 320 car parking spaces • Substantial redevelopment opportunity for commercial or residential
uses (STP)
• Prominent landmark building extending to ten storeys in total • 1.95 acres in total, including 1.15-acre main site with 0.8-acre
undeveloped land • Offers in excess of £3,750,000 exclusive, reflecting a low capital value
• Over 108,000 sq ft gross area, including 75,000 sq ft of internal
of £35 per sq ft overall, Subject to Contract
accommodation over eight floors above a 33,000 sq ft two-storey • Freehold
car park
HOME INVESTMENT SUMMARY LOCATION CONNECTIVITY DESCRIPTION ACCOMMODATION, SITE & TENURE PLANNING CONSIDIRATIONS TERMS ← 2 →
Intersection House, 110-120 Birmingham Road, West Midlands B70 6RP
Birmingham: The UK’s second city and a leading European business destination Coventry: Globally recognised for manufacturing and engineering excellence Dudley: Home to multi-million-pound business, transport and retail developments Sandwell: 9,000 dynamic businesses employing around 140,000 people
Solihull: A world-class destination for business, investment and exhibition Walsall: An established destination for regeneration and economic development Wolverhampton: A young and vibrant city with £4.4bn of regeneration projects
Location
The West Midlands is a major area of the UK, The region has a fantastic vibrancy and is the region boasts the fastest growing economy of any
representing one of nine regions of England, a benefiting from major inward investment, city region in the UK, with population growth of half a
metropolitan county and combined authority. including the 2022 Commonwealth Games, the million forecast in the next 20 years.
£700 million mixed-use Paradise project, the £1.9
With a population of over 2.9m, it is the The region’s success is rooted in its core strengths
billion Smithfield Regeneration, the West Midlands
second largest county in the UK and is actively of advanced manufacturing and engineering, with
Metro and HS2.
represented by the West Midlands Combined several growing sectors including tech, creative and
Authority, providing strategic direction life sciences playing a significant role in its economic
Local Economy
for transport, economic development and diversity.
regeneration. The West Midlands economy is home to hundreds
This strong long-term growth is supported by a
of globally competitive businesses such as Jaguar
The area also forms part of the Midlands Engine, robust Strategic Economic Plan and Local Industrial
Land Rover and Cadbury and is a UK leader for
a dynamic partnership combining public and Strategy, backed by an £8bn 30-year investment
inward investment.
private sector stakeholders to generate added programme, making the West Midlands the most
value through important transport, enterprise, With total GVA of £105bn and the number of new exciting investment proposition in the UK.
connectivity and trade projects. and active enterprises exceeding the UK average,
HOME INVESTMENT SUMMARY LOCATION CONNECTIVITY DESCRIPTION ACCOMMODATION, SITE & TENURE PLANNING CONSIDIRATIONS TERMS ← 3 →
Intersection House, 110-120 Birmingham Road, West Midlands B70 6RP
M6 J6 Birmingham (5 miles)
Hamstead
A52
M5 M42
A41
Connectivity West
Bromwich Handsworth
A34 Erdington
Water
Orton
M6 M5 J1
Intersection House is located on a gateway site at A41
A38(M)
M5
Junction 1 of the M5 Motorway. Saltley
M6
Smethwick
Rowley
The property is situated on the A41 Expressway Regis Birmingham
Stetchford
(Birmingham Road), which links nearby West Fordbridge
Bromwich with Wolverhampton, Birmingham A456
and Solihull.
Harborne Birmingham Airport
A458 A45
Balsall Heath
Road
California A41
Birmingham is approximately 5 miles east via the M5
A38
M42
A41 (or M6 and A38M), London 120 miles south- A435 West Bromwich (1 mile)
east via the M40, Bristol 87 miles south-west via
the M5 and Manchester 80 miles north via the M6.
Road communications are therefore excellent as
the property is located at the centre of the UK
motorway network.
Rail
National rail services are available from
Birmingham New Street, Snow Hill and Moor
Street. Together, these stations provide
connections to all regions of the UK, with fast
journey times of 1 hour 13 minutes to London
Air
(reducing to 49 minutes via HS2), 1 hour 27
minutes to Manchester, 1 hour 56 minutes to Birmingham Airport is approximately 20 miles
Leeds, 1 hour 50 minutes to Cardiff and 3 hours 55 east via the M6 and M42 and offers international
minutes to Glasgow. flights to destinations in Europe, the Middle East,
the Indian subcontinent, North America and
In addition, the West Midlands Metro links
the Caribbean.
the property to West Bromwich town centre,
Wolverhampton and Birmingham City Centre. With over 12.6m passengers in 2019, making
The Metro line is currently being extended to it the seventh busiest airport in the UK, it is
Edgbaston, due to be completed in 2021, with two an operating base for Jet2.com, Ryanair and
new lines planned for service in 2022 and 2023-26. TUI Airways.
HOME INVESTMENT SUMMARY LOCATION CONNECTIVITY DESCRIPTION ACCOMMODATION, SITE & TENURE PLANNING CONSIDIRATIONS TERMS ← 4 →
Intersection House, 110-120 Birmingham Road, West Midlands B70 6RP
Description
Intersection House comprises a substantial, prominently
positioned multi-storey building overlooking Junction 1 of the
M5 Motorway, situated on a secure gated site.
Сonstructed in the 1970s and extensively refurbished in 1999,
the building comprises a reinforced concrete frame with ribbon
double glazed aluminium framed windows beneath a flat roof.
The building extends over ten storeys in total, comprising two
storeys of under-croft parking and ground floor reception with
eight above-ground storeys of commercial accommodation.
The building is currently configured as office accommodation
of mainly open plan layout, taking advantage of its “T” shaped
floorplates, with the following internal specification:
• 3,300 sq ft to 8,853 sq ft floorplates (NIA)
• Suspended ceilings with recessed LG-compliant lighting
• Carpeted floors
• Air conditioning
• Perimeter trunking
• At least 3.3m floor to ceiling heights
• 3 x 8-person passenger lifts
HOME INVESTMENT SUMMARY LOCATION CONNECTIVITY DESCRIPTION ACCOMMODATION, SITE & TENURE PLANNING CONSIDIRATIONS TERMS ← 5 →
Intersection House, 110-120 Birmingham Road, West Midlands B70 6RP
Typical Floor Plan
Accommodation, Site & Tenure
Accommodation Site
The property comprises the following approximate floor areas: The property is situated on an immediate site area of 1.15 acres
(0.47 hectares), extending to 1.95 acres (0.79 hectares) in total
Floor Net (Sq Ft) Gross (Sq Ft) including the adjacent land. The site is broadly level and regular in
Ground to Eighth 65,279 75,347 shape with a tapered north-eastern boundary to Birmingham Road.
Car Parking 33,368
Tenure
Total 65,279 Sq M 108,715 Sq Ft
The property is held Freehold with title absolute comprising three
The site includes approximately 320 car parking spaces in total. titles in total.
HOME INVESTMENT SUMMARY LOCATION CONNECTIVITY DESCRIPTION ACCOMMODATION, SITE & TENURE PLANNING CONSIDIRATIONS TERMS ← 6 →
Intersection House, 110-120 Birmingham Road, West Midlands B70 6RP
Planning Considerations
The property occupies a gateway site adjacent the M5 The property has most recently been used as office utilising the presumption in favour of sustainable
Motorway at the entrance to West Bromwich. accommodation (Class B1 of the Use Classes Order development or via Permitted Development Rights.
1987, now reflected by Class E), it is not located within a
The vicinity comprises a variety of uses including Alternative Markets: Considering the excellent
Conservation Area or Listed and is identified as having
industrial, commercial and residential, together with connectivity and prominent location of the property,
low risk of flooding by the Environment Agency.
extensive local amenities. it may also be suitable for use as a hotel, serviced
accommodation or a student residence, among other
Local Plan Alternative Uses
uses including in combination.
The Local Authority is Sandwell Metropolitan Borough Due to the results of the Sandwell Housing Delivery
The proximity of the site to the M5 Motorway, Sandwell
Council, whose Development Plan includes the Black Test 2020, the NPPF presumption in favour of
College and General Hospital, the West Midlands Metro,
Country Core Strategy (2011), Site Allocations and sustainable development would be enacted for any
West Bromwich and Birmingham all contribute to its
Delivery DPD and the West Bromwich Area Action Plan future development of the property and it is considered
viability for a variety of alternative uses (STP).
(2012). that it could be suitable for a variety of uses.
The West Bromwich AAP defines local land allocations Office: The current Local Plan identifies the property as
and development management policies in line with a landmark building for high quality office uses at the
the Core Strategy. The property is situated within Material Considerations gateway to West Bromwich and the M5 Motorway. The
WBPr20 which covers a 7.9ha area intended for M5 Corridor office market has a diverse occupier base
The Local Plan policies highlighted above are out of with largely consistent take-up (5-year average of circa
employment uses, with Intersection House identified
date according to the current National Planning Policy 215,000 sq ft per annum) and a gradually diminishing
as a “significant landmark building on the motorway
Framework, which places a presumption in favour of level of supply, especially above 10,000 sq ft. These
junction”.
sustainable development and states that planning dynamics have resulted in rental levels and lease
Included in the AAP for delivery by 2026 is 220,000 permission should therefore be granted unless “any lengths increasing and this is expected to continue with
sq m of office space, 65,000 sq m of retail, 4,800 sq adverse impacts of doing so would significantly and the growing popularity of city fringe and out of town
m of convenience and up to 4,600 new homes, with demonstrably outweigh the benefits”. locations, with current headline rents in West Bromwich
improved transport and public realm. of circa £16 per sq ft reflecting scope for uplift relative
The NPPF is also of significance where a Housing
Specific policies of relevance to the property include: Delivery Test demonstrates that delivery is significantly to other M5 Corridor locations.
below (75%) a Local Authority’s stated requirements, Residential: Due to current housing shortages in the
• WBP5 Housing: with a density requirement of
which for Sandwell was 59% of the 3-year target in
45-60 dph area, there is a strong potential case for residential
February 2020. The NPPF presumption in favour of development of the site. There are several examples
• WBP15 Car Parking: whereby a flexible approach sustainable development is therefore a significant of office buildings being converted to residential
may be taken for residential use material consideration in this case. accommodation in the immediate and wider vicinity,
• WBP17 NPPF: whereby there will be a presumption A new Core Strategy is currently being produced resulting in extremely limited stock of this scale
in favour of Sustainable Development subject to an evidence base and “call for sites”, with still available for development. The building would
a Draft Plan expected to be available for consultation therefore lend itself to conversion to a relatively high-
The AAP also states that “gateways to the town will in Summer 2021. It is therefore now an ideal time density scheme of apartments and starter homes to
be defined by development that provides a high for representations to be made to the Local Authority assist with local housing needs. It is expected that
degree of visual impact and interest” and identifies the regarding the future uses of the site. this could be achieved by formal planning application
property as being within an “Opportunity Area”.
HOME INVESTMENT SUMMARY LOCATION CONNECTIVITY DESCRIPTION ACCOMMODATION, SITE & TENURE PLANNING CONSIDIRATIONS TERMS ← 7 →
Intersection House, 110-120 Birmingham Road, West Midlands B70 6RP
Terms
EPC
An EPC has been commissioned and will be made available to
interested parties on request.
VAT
The property is elected for VAT.
Terms
Offers in excess of £3,750,000 exclusive for the freehold
interests with vacant possession, reflecting a low capital value
of £35 per sq ft overall.
Leasehold enquiries will also be considered.
On behalf of the LPA Receiver, Subject to Contract.
Contacts
For further information, please visit the dataroom or contact:
Nick Hammond
0121 265 7587
07717 652 778
Nick.Hammond@colliers.com
Peter Vass
0121 265 7593
07584 521 252
Peter.Vass@colliers.com
Misrepresentation Act
Colliers International gives notice that these particulars are set out as a general outline only for the guidance of intending Purchasers or Lessees and do not constitute any part of an offer or contract. Details are given without any responsibility and any intending
Purchasers, Lessees or Third Party should not rely on them as statements or representations of fact, but must satisfy themselves by inspection or otherwise as to the correctness of each of them. No person in the employment of Colliers International has any
authority to make any representation or warranty whatsoever in relation to this property. March 2021.
Colliers International is the licensed trading name of Colliers International Valuation UK LLP which is a limited liability partnership registered in England and Wales with registered number OC385143. Our registered office is at 50 George Street, London W1U 7GA.
HOME INVESTMENT SUMMARY LOCATION CONNECTIVITY DESCRIPTION ACCOMMODATION, SITE & TENURE PLANNING CONSIDIRATIONS TERMS ← 8
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