Former Coggles premises acquired
THE former premises of York-based fashion retailer Coggles has been snapped up by a private investment company.
Coggles entered into administration last year and under instruction from administrator Begbies Traynor, property firm Sanderson Weatherall was instructed to handle the sale of the former premises at number 91-93 Low Petergate and an investment asset at 58 Low Petergate.
The former flagship address and home of Sarah Coggles for more than 25 years, number 91-93 Low Petergate, a 3,145 sq ft property, has been bought for in excess of £1.4m and Sanderson Weatherall has secured a new tenancy on behalf of the new owner to up and coming fashion retailer Mint Velvet.
Number 58, a former holding of the business, has also been sold to a private investor for £673,900 under an existing tenancy to The Fudge kitchen.
Peter Heron, partner and retail specialist at Sanderson Weatherall, said: “Low Petergate along with a handful of similar streets in York provides a prime investment opportunity in this region. Their availability is scarce so when a property comes to market there is considerable demand and enquiries in this instance were very high.
“There’s no question York’s appeal as a tourist destination makes it a secure and popular choice for retailers.”
Number 73 formerly leased by Sarah Coggles, a 670 sq ft property, was also re-let by Sanderson Weatherall to the Sweater Shop.
