Investor acquires York commercial sites worth £4m

A PROPERTY investment syndicate, the Helmsley Group, has acquired £4m worth of commercial property in York to add to its portfolio.

Piccadilly House, the York County Court building, as well as Grade II listed site Bonding Warehouse have been bought by the firm.

The York-based investor purchased the latter from developer Grantside, who bought the site to convert it into commercial and residential property in 2012.

This Skeldergate site was built in 1875 and was used by famous York confectioner Rowntree’s when York was a commercial port and converted into a restaurant in the 1970’s.

Current tenants include Anaplan and the head office of its developer Grantside.

The Piccadilly House site is currently held under a 10-year lease by the Department of Communities and Local Government.

Langleys Solicitors in York acted for The Helmsley Group on both acquisitions.

Ian McAndrew, director at The Helmsley Group responsible for its syndicated property portfolio, said: “Both properties are valuable additions to our nationwide syndicated property portfolio. The properties will be held for long term investment for clients of the Helmsley Group.

“York is particularly popular for investment and we are delighted to have expanded our holdings in the City with these two new acquisitions”

Tim Cross, partner at Langleys, added: “These two landmark buildings are among the best known in York city centre and a superb addition to Helmsley’s portfolio.

“We were pleased to provide advice to secure these important acquisitions.”