21 August 2017
Sale of Mixed Use Investment Property, Gillygate, York
Barry Crux & Company is pleased to announce completion of the sale of a mixed use commercial/residential investment property prominently positioned on Gillygate.
42-44 Gillygate, a substantial three storey building, comprises a double-fronted ground floor retail unit, spacious 3/4 bedroomed self-contained maisonette and a further 1 bed self-contained ground floor flat.
The ground floor shop is let to well-established independent York retailer Snowhome. The maisonette and flat were sold with vacant possession.
This good quality city centre investment property attracted a lot of interest from local and regional investors as properties like this rarely come onto the market. In addition, the investment offers the potential to add value through the refurbishment of the residential accommodation.
The freehold interest, subject to the lease to Snowhome with vacant possession as to the remainder, was sold off an asking price of £650,000.
This sale indicates that there continues to be a strong appetite among investors for well-located and well-let properties.