Offices to homes conversion on industrial estate

Offices to homes conversion on industrial estate

The Clifton Moor industrial estate in York is becoming a starter home hub thanks to the vision of one man. Sharon Dale reports.

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Helmsley buys £7million Queen’s House in York

On behalf of a syndicate of private investors, 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 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 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 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.”

Helmsley Group was represented by Tulloch Property Consultants and Wade Property Consultants. John Beckett of Walkers solicitors also advised.

Work Completed at Felling

The multi-million pound redevelopment of Felling Shopping Centre, in Gateshead, by Caddick Developments and Helmsley Group is now complete.

Located on Crowhall Lane, the regeneration is now fully complete with ASDA opening it’s doors to join Subway, Boots, Card Factory, Greggs and a local taxi operator who are now all trading on the development.

Caddick Development’s sister company Caddick Construction was responsible for the design and build. Andrew Murray, Managing Director at Caddick Construction, commented “Our team was on site for 15 months, and I’m pleased to confirm the development was completed on time and importantly on budget. We’re really pleased with the finished scheme particularly as it enabled us to demonstrate our vast knowledge and skill in the successful delivery of retail projects”.

Myles Hartley, Managing Director at Caddick Developments, added “The strength of experience in our joint venture team together with the experience of Caddick Construction provides a clear indication of the design and build quality at Felling Shopping Centre. We are hugely excited to have fully completed the development and to see our aspirations for the scheme come to life”.

John Reeves, Chairman of Helmsley Group said “This scheme has been long in the making, there have been many obstacles to overcome in order to get this development progressed and it is great to see the culmination of four years of hard work finally come together with stores opening.”

“We are grateful to Gateshead Council for their assistance in bringing this scheme to fruition, they have worked with us to ensure a successful scheme has been delivered and along with our development partners, Caddick Developments, we are excited to see the impact on Felling High Street that this re-development has the potential to facilitate.”

Commercial Property Monthly
Volume 34, Issue No 2, 2016


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