Helmsley Group celebrates record year with £1.2m acquisition
PROPERTY investment company The Helmsley Group has added a new £1.2m property to its portfolio.
The York-based group has bought an industrial unit at Sleaford Enterprise Park, Lincolnshire, which is let to North Kesteven District Council and will deliver an initial net 6% annual return to investors.
The rent will rise on review in April 2012 based on uncapped RPI increases or open market value. The 21,000 sq ft space is split into 19 individual units, which are sub-let to small businesses.
Ian McAndrew, director of the Helmsley Group, said: “This industrial unit in Sleaford is a great investment opportunity. The unit is situated in a well established enterprise park in a great location with good road links and has the security of a local authority tenant committed to a 15 year full repairing and insuring lease, expiring in April 2022.”
The Helmsley Group, which purchases properties on behalf of syndicates of investors, enjoyed a record year in 2010, investing and syndicating £11.5m of property.
Recent investments in Yorkshire include the £1.6m acquisition of Duke House on Wellington Street in Leeds, occupied by Ison Harrison solicitors, and the £3.4m purchase of a retail warehouse in Huddersfield, which is let to Halfords.
Mr McAndrew said: “2010 has been a record year in our 18 year history of delivering syndicated property opportunities to clients. This reflects our long term confidence in the commercial property sector which is already bearing fruit for 2011.”
