Helmsley adds to property portfolio

PROPERTY investment company The Helmsley Group has added a Pets at Home outlet and a Co-op convenience store to its £75m syndicated property portfolio.

By The Newsroom

Published 21st Apr 2011, 10:21 BST

The Helmsley Group, based in York, specialises in buying commercial properties on behalf of syndicates of private clients and pension funds. Its latest syndications include the £1.8m Pets at Home store in Bridlington and a Co-op Food Store in Audlem, South Cheshire for £940,000.

Pets at Home has a 15-year full repairing and insuring lease on the 8,507 sq ft building on Bessingby Road and Helmsley said it will deliver annual net returns of 5.95 per cent to investors, rising to 7.75 per cent by October 2017.

Investors will achieve an annual net return of 5.85 per cent, increasing to 6.6 per cent in 2012 on the 2,890 sq ft retail unit let to United Co-operative Food Stores, it added.

Helmsley director Ian McAndrew said: “Commercial property has always been an attractive investment proposition that can offer high returns over the long term with minimum risk.”