PROPERTY investor The Helmsley Group, of Pocklington, has stepped outside its normal brief in York to spend £3.5 million through its investment syndicate on a Sheffield city centre building.
The Helmsley Group and its client investors have acquired an office block at Arundel Gate, close to Sheffield railway station, which should bring them annual returns of about 6.3 per cent. That is likely to rise to seven per cent on rent review.
The group is behind some of York's most impressive office developments, including Monks Cross North and Clifton Park.
James Craven, the Helmsley's associate director, said that commercial property syndication was a simple concept.
He said: "Our clients, who are private individuals and pension funds, purchase a share of commercial property and in return secure a proportion of the rental income plus any capital growth, including any growth at rent review.
"Residential property investment is quite common, but it is a little-known secret that commercial property has also always been an attractive investment proposition that can offer high returns with minimum risk."
Updated: 10:35 Wednesday, October 12, 2005
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