Cable Plaza was subject to a £5 million pound refurbishment and fit-out as a state-of-the-art music education facility, completed by Overbury, in 2019. It now offers one of the most well-equipped and high specification education facilities within the UK. The property is a modern self-contained 3-storey premises, occupying a waterfront position.
Cable Plaza provides the following specialist accommodation:
- Studio complex with 3 recording studios
- 4 radio broadcast rooms
- 8 soundproofed band rehearsal rooms
- 6 soundproofed individual practice rooms
- Specialist Mac lab & IT suite
- 9 spacious multi-purpose teaching rooms
- 200-person capacity lecture theatre
The property benefits from high-capacity data infrastructure via a ‘Dante’ network, allowing high speed internal connectivity and transfer of data between the various rooms.
The fit-out also included substantial upgrade and improvement works to the property’s mechanical and electrical services, including installation of a new VRV 3-pipe heating and cooling system and fresh air ventilation system. Additional upgrades executed included replacement of the passenger lifts, installation of new lighting, fire alarm and security systems and refurbishment of welfare facilities.
Location
The property is located on Waterfront West, Brierley Hill, which comprises one phase of the larger Waterfront Business Park scheme, established in the early 1990s. The estate, set around the canal marina and attractive landscaped surroundings, provides extensive office and commercial accommodation in the form of self-contained and multi let buildings, as well as restaurants, bars, apartment complex and the Copthorne Hotel.
The park is centrally located in Brierley Hill, West Midlands, situated 12 miles and a 30-minute drive time, west of Birmingham City Centre. The park benefits from strong connections to the national road and motorway network, with the M5 accessible at junction 2 (6 miles distant) and junction 3 (8 miles distant). The A4036 dual carriageway is a short distance from the park, connecting with local trunk roads Duncan Edwards Way and the Birmingham New Road, providing onward access to Wolverhampton to the north.
The site benefits from good bus connections via the bus station at the adjacent Merry Hill Shopping Centre, providing direct services to key local centres, including Cradley Heath, Dudley, Halesowen, Stourbridge, Walsall, West Bromwich, Birmingham and Wolverhampton.
The Waterfront Development stands to benefit from notable infrastructure improvements. The Midland Metro is extending the existing line from Wednesbury to Brierley Hill, with a dedicated stop proposed at the Waterfront. The first phase of the extension is scheduled to be operational during 2024. Funding for the full extension has been confirmed, with a significant junction connecting the existing line and the new line, approaching completion. Once fully operational, the Metro will provide exceptional connectivity, linking the park directly with Birmingham and Wolverhampton City Centres and onwards to HS2 and Birmingham International Airport.
Accommodation
The property provides the following net internal area (NIA):
Ground Floor - 1,890.76 sq m (20,352 sq ft)
First Floor - 1,891.71 sq m (20,362 sq ft)
Second Floor - 363.13 sq m(3,909 sq ft)
Total - 4,145.60 sq m (44,623 sq ft)
Terms
TITLE - The property is held by way of long-leasehold title, for a term of 150 years commencing December 2018, at a peppercorn ground rent. A copy of the long-lease is available within the Marketing Pack.
SERVICE CHARGE - A service charge is payable in respect of the maintenance and upkeep of the common areas of the wider park.
BUSINESS RATES - The property is assessed as follows within the Rating List:
Description: OFFICES AND PREMISES Rateable Value: £ 252,500
Interested parties are to rely on their own enquiries with the local authority.
SERVICES - We understand that all mains services are connected, but none have been tested. Interested parties are to rely on their own enquiries.
EPC - The property is rated B (26).
PLANNING - The property received planning consent in 2017 for change of use from offices to a musical education school.
CAPITAL ALLOWANCES - Capital Allowances may be available. Interested parties are to rely on their own enquiries.
COSTS & VAT - Each party is responsible for their own professional costs incurred as part of the transaction. Quoted pricing is exclusive of VAT.
Specification
- STATE-OF-THE-ART MUSIC EDUCATION FACILITY
- MULTI-MILLION-POUND FIT-OUT COMPLETED BY OVERBURY IN 2019
- EXCEPTIONALLY HIGH SPECIFICATION INCORPORATING HIGH-CAPACITY DATA INFRASTRUCTURE AND UPGRADED M&E SERVICES
- ACCOMMODATION COMPRISING SOUND-PROOFED RECORDING, BROADCAST AND REHEARSAL STUDIOS, ALONGSIDE MULTI-PURPOSE TEACHING AND LECTURE ROOMS
- 44,623 SQ.FT. NIA ACROSS 3 FLOORS
- HELD BY WAY OF 150-YEAR LEASE FROM DECEMBER 2018 AT PEPPERCORN RENT
- LOCATED WITHIN DY5 BUSINESS AND INNOVATION ENTERPRISE ZONE
- OFFERS OF £4 MILLION INVITED FOR THE LONG-LEASEHOLD INTEREST