A mixed-use property in York has been sold to privately-owned property investment and development company Boultbee Brooks Real Estate for £5 million.
Spanning 23,091 sq ft, 16-24 George Hudson Street includes Grade A office space spread over three floors with retail units on the ground floor.
Tenants include My Knowledge Map, bus operator First York, and engineering consultancy Halcrow, which has recently been acquired by Jacobs.
The property produces a current income of £393,208 per annum and benefits from an AWULT of approximately six years.
The Manchester and Leeds offices of Cushman & Wakefield jointly represented Property Alliance Group. BBRE was advised by Aurum Real Estate.
Rob Peill, Head of offices at Alliance, said: “Since acquiring the property, we’ve invested in an extensive refurbishment to meet the huge demand for high-quality Grade A office space in York, including remodelling the reception area.
“This has attracted a steady flow of new tenants with strong covenants making it an ideal investment opportunity.”