Greenridge investment Management has added to its portfolio of regional assets, with the £2.425m acquisition of a prime high street unit, 18-20 Stonegate, in York’s historic city centre.
The double frontage, 3,890 sq.ft asset is fully occupied by luxury British fashion label Jack Wills. The property, which spans four floors, is let on a full repairing and insuring lease until January 2026 at a passing rent of £115,000 per annum.
Greenridge director Alex Walker says: “Whilst the retail sector is evolving, we believe there is still strong merit in owning prime, central high street assets in towns and cities that are destinations in their own right. York has one of the most picturesque, historic city centres in the UK and the chocolate box building frontages of Stonegate, along with the consistently high footfall, are always likely to appeal to occupiers, whether in retail or in alternative use classes.”
Greenridge Investment Management was advised by KLM Retail and DAC Beechcroft LLP, with the vendors represented by JLL.