On behalf of a syndicate of private investors, The Helmsley Group has acquired Queen’s House on Micklegate in York.
The deal, worth £7million, is the latest acquisition for the Group in recent months, following the purchases of East Coast House – Virgin Trains East Coast headquarters and Mill House, both within York’s prime business district.
Queen’s House is home to Langleys Solicitors LLP, Sainsbury’s, Adecco Ltd and Reeds Rain. The investment takes The Helmsley Group’s national property portfolio to over £120million, with £20million worth of syndicated investments acquired in York alone in the last 12 months.
Ed Harrowsmith from The Helmsley Group says: “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 adds: “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.”
As part of the deal Langleys Solicitors has agreed a five-year extension to its lease at Queen’s House following Helmsley’s acquisition of the building expiring in October 2026. The law firm recently invested more than £1.2m in the refurbishment of the three floors it occupies.
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.