Investors acquire £7m law firm offices

The Helmsley Group has acquired Queen’s House, the home of Langleys Solicitors in York on behalf of investors for £7m.

The Micklegate site is the latest acquisition for the group following the acquisition of Virgin Trains East Coast headquarters and Mill House, both in York.

The headquarters of York-based law firm Langleys, Queen’s House is also home to Adecco, Reeds Rain and its retail unit is let to Sainsbury’s.

Langleys have agreed a five-year extension to its lease as part of the deal, which will see the firm based there until October 2026.

The Helmsley Group’s national property portfolio to over £120m, with £20m worth of syndicated investments acquired in York in the last 12 months.

The law firm recently invested more than £1.2m in the refurbishment of the three floors it occupies.

Ed Harrowsmith from The Helmsley Group said: “Queen’s House represents another fantastic investment for our investors, providing long term secure income in a prime city centre location. York is a regional city that ticks our national investment criteria and we’ve also recently acquired properties in places like Salisbury, Chichester and Southport.”

Ian McAndrew from The Helmsley Group added: “York has a limited supply of available sites for commercial development. Quality office accommodation in the city is limited and this means there are very few opportunities in the city centre to provide occupiers with premium space. In order to attract inward investment and new employers, the city needs to address this going forward.”

David Thompson, managing partner at Langleys, said: “Our investment in the refurbishment of Queens House, followed by the lease extension, demonstrates our commitment to York as a major employer and our support for the city as a business centre.”

The Helmsley Group was represented by Tulloch Property Consultants and Wade Property Consultants. John Beckett of Walkers solicitors also advised.