A Pocklington property company has announced a £50 million shopping list for Yorkshire.

The Helmsley Group, which already has a major property portfolio in York, has

earmarked £20 million to acquire commercial property in the region during 2006 and an extra £30 million for new build commercial property to meet demand from investors.

The Helmsley Group syndicates commercial property to private investors and

pension funds, which then receive financial returns on the investment based on the rental value.

It claims that typical annual returns are around six to 13 per cent plus capital growth, depending on the property type, tenant and location.

James Craven, an associate director at Helmsley, said: "We have been operating for more than 25 years and Yorkshire is still a hot bed of activity for us, although we invest in properties throughout the UK. We have invested in office and industrial units throughout the region, including York, Leeds and Sheffield, which are generating long term investment potential for our clients.

"The issue at the moment is that investors are queuing up to put their money into commercial property, but it is becoming more difficult to find the right properties that have the rental or development potential that can

generate annual returns in excess of six per cent."

One of the ways in which Helmsley is meeting the increased demand from investors is to increase its own property development programme.

The firm's £100 million commercial property portfolio already includes landmark developments such as Monks Cross North business park, in York, and new offices at Middlehaven, in Middlesbrough.

Updated: 11:19 Thursday, November 03, 2005