Retail, food and residential premises acquired by property group
Property investment and development specialist, Helmsley Group, has purchased Victoria Court in Wetherby in a multi-million pound deal.
York-based Helmsley Group, which offers syndicated investment opportunities on behalf of its network of high-net worth sophisticated investors and family offices, purchased the property from a family investment trust.
The building is occupied by an M&S Food store, the restaurant Bengal Brasserie and 24 residential apartments.
Ed Harrowsmith, investment director at Helmsley Group, said: “We’re delighted to have completed the purchase of Victoria Court, further diversifying our portfolio across Yorkshire and offering a prime and secure opportunity on behalf of our investors in a robust, affluent location.
“The food sector has proven to be extremely resilient, despite the challenges presented by the pandemic.
“This is evidenced by the ongoing strong performance of both M&S Food and Bengal Brasserie at Victoria Court, which sits at the heart of the prosperous town of Wetherby.
“We anticipate both will continue to deliver significant future yields and provide new and existing investors with the potential for a secure income during a period of low interest rates.
“In addition, the unit’s 24 apartments are fully occupied and provide a thriving residential community. We are currently exploring other investment opportunities across the region on behalf of our clients.”
James Bradley at Langleys Solicitors and James Yates at Avison Young acted for Helmsley on the purchase. Cushman & Wakefield acted on behalf of the seller.
Bradley, partner at Langleys Solicitors, said: “We’ve worked collaboratively with Helmsley Group for a number of years and are pleased to have helped secure another prime investment opportunity on behalf of its investors.
“The purchase of this popular location evidences that despite ongoing economic uncertainty, property continues to be a solid investment with the potential to generate significant returns.”
