YORK property specialists have bought a prime retail space, restaurant and 24 apartments in a multi-million pound deal.
Property investment and development specialist, Helmsley Group, has purchased Victoria Court in Wetherby.
Helmsley Group, which offers syndicated investment opportunities on behalf of its network of high-net worth investors and family offices, purchased the property from a family investment trust.
It is occupied by an M&S Food store, Bengal Brasserie and 24 apartment.
Ed Harrowsmith, investment director at Helmsley Group, said the acquisition further diversified their portfolio.
“We’re delighted to have completed the purchase of Victoria Court, further diversifying our portfolio across Yorkshire and offering a prime and secure opportunity on behalf of our investors in a robust, affluent location.
“The food sector has proven to be extremely resilient, despite the challenges presented by the pandemic. This is evidenced by the ongoing strong performance of both M&S Food and Bengal Brasserie at Victoria Court. We anticipate both will continue to deliver significant future yields and provide new and existing investors with the potential for a secure income during a period of low interest rates.
"In addition, the unit’s 24 apartments are fully occupied and provide a thriving residential community. We are currently exploring other investment opportunities across the region on behalf of our clients.”
James Bradley at Langleys Solicitors, and James Yates, at Avison Young, acted for Helmsley on the purchase. Cushman & Wakefield acted on behalf of the seller.
James Bradley, partner at Langleys Solicitors, said: “We’ve worked collaboratively with Helmsley Group for a number of years and are pleased to have helped secure another prime investment opportunity on behalf of its investors.
“The purchase of this popular location evidences that despite ongoing economic uncertainty, property continues to be a solid investment with the potential to generate significant returns.”
To find out more about investment opportunities with the Helmsley Group, please email mail@helmsley.co.uk.
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