Member Article

Property Investors Shop For Retail Buildings

DACRES Commercial has successfully sold two prominent retail-led buildings in Ilkley and Thirsk to investors, and the company has just launched another exciting investment opportunity to the market.

In Ilkley, 39 The Grove offers approximately 3,365 square feet of accommodation arranged over five floors. The basement and ground floors are currently let to renowned healthy eatery Filmore & Union, with the upper floors comprising self-contained office accommodation. Offers in the region of £700,000 were invited for the freehold interest.

The company has also sold 2/10 Millgate and 1-3A Court Arcade in Thirsk town centre. The property comprises seven self-contained retail units, two residential apartments and two office suites, totalling approximately 8,699 square feet. The properties currently produce an income of £47,500 per annum and were marketed with a guide price of £550,000.

Matthew Brear from Dacres Commercial says: “There’s plenty of appetite from investors looking to acquire properties with established tenants in towns that are popular with both locals and tourists alike. Both these properties are centrally located and surrounded by a range of established and well known businesses. As a result of being situated in prime pitches, there was a great deal of interest in both instructions.”

The company is now marketing an attractive investment opportunity comprising of a 0.19 acre site, on New Road in Yeadon. The premises are leased by Enterprise Rent-A-Car at a current rent of £29,500 per annum and have a guide price of £375,000.

Matthew says: “This is a low-maintenance investment site let to a global car hire firm, less than three miles from Leeds Bradford Airport. Enterprise have suggested they may be willing to extend their lease term as a result of the successful trading they are experiencing at the site, which makes it a very interesting opportunity.”

Dacres Commercial operates from an office network that covers Leeds city centre, Ilkley, Skipton, Keighley, Harrogate and Otley. The firm is part of leading estate agency firm Dacre, Son & Hartley.

This was posted in Bdaily's Members' News section by Steven Wright .