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15 HIGH OUSEGATE, YORK

Impression Public Relations team look after the Public Relations for Sanderson Weatherall – below is one of the latest press releases.

 

A prime high street property in York has been sold for £1.3 million to a private investor client of Sanderson Weatherall LLP. Real Estate fund managers PRUPIM, represented by CB Richard Ellis, sold the property which is located at 15 High Ousegate, York for the figure which represented a 5.96% Net Initial Yield.

Peter Heron, Partner Sanderson Weatherall commented, “This sale reinforces the popularity of quality locations in York’s City Centre. The combined situation of the property and its current tenant, along with York’s continuing presence as a tourism hub made it an attractive investment opportunity for our client.”

The property comprises a well located freehold retail investment let to Hawkins Bazaar (Shops) Limited on full repairing and insuring terms from 25 March 2009 for a term expiring 24th March 2019 at a rent of £82,000 per annum.

Heron continues; “The underlying strength of 15 High Ousegate was highlighted by the number of interested parties when it was last let by Sanderson Weatherall in 2009. We received high levels of interest before finally leasing the property to Hawkins Bazaar. ”

Located within the prime section of High Ousegate between Parliament Street and Spurriergate the property is situated in one of York’s prime retail locations. Retailers in the immediate vicinity include Fat Face, New Look, Barclays, Levis, Ann Summers and Lakeland. In addition Costa Coffee has recently taken the adjacent unit at 14 High Ousegate, improving the immediate pitch