A PORTFOLIO of former premises belonging to premium international fashion retailer Coggles have been snapped up by a private investment company in a deal worth more than £1.4m.
Number 91-93 Low Petergate, York, which was the flagship address and home of Sarah Coggles for over 25 years, has been let to fashion retailer Mint Velvet.
Meanwhile, no. 58 Low Petergate, a former holding of the business, was also sold to a private investor for £673,900 under an existing tenancy to The Fudge kitchen.
Number 73 Low Petergate, a 670 sq ft property formerly leased by Sarah Coggles, was re-let to the Sweater Shop.
Sanderson Weatherall in Leeds completed both the sales and the re-letting of the premises.
Peter Heron, partner and retail specialist at Sanderson Weatherall, said: “Low Petergate along with a handful of similar streets in York provides a prime investment opportunity in this region.
“Their availability is scarce so when a property comes to market there is considerable demand and enquiries in this instance were very high.
“There’s no question York’s appeal as a tourist destination makes it a secure and popular choice for retailers.”
Coggles was placed in the hands of administrator Begbies Traynor in May 2013.
It is now purely an online business following its takeover by The Hut Group and is home to over 200 men’s and women’s designer collections from established fashion houses, emerging designers and little known international labels.
The takeover by The Hut included all the stock and intellectual property such as the brand and the company’s domain names, but the administrators closed the shops.