Helmsley adds to its portfolio
YORK property investors The Helmsley Group has added to its £80m syndicated property portfolio with its latest acquisition.
The Yorkshire company has bought an office building in Northampton for £3.2m.
The 23,475 sq ft office building is let to the Secretary of State for Communities & Local Government and is occupied by HM Revenue & Customs on a 15 year lease.
The Helmsley Group has specialised in syndicating commercial property for more than 20 years. Clients, who are either high net worth individuals or sophisticated investors, invest in these syndicates and receive a share of rental income plus any future capital growth in return for a minimum investment level of £25,000.
Helmsley director, Ian McAndrew, said: “Our objective in syndicated property is to provide clients with mid to long-term secure income from as strong a tenant covenant as possible.
“This property is let to a government department – HMRC – which has been in occupation since the building was constructed in 1982. It has recently closed offices within the immediate area to consolidate into this building.
“However, we do look for properties we believe have future potential for alternative uses should for any reason the tenant not renew the lease at the end of the term.”
