Eddisons and Gordons team up in £2.4m of property deals

Eddisons and Gordons team up in £2.4m of property deals

Horsforth property consultant Eddisons and Yorkshire law firm Gordons have completed two commercial property investment transactions within a week in Harrogate, with a combined value of £2.4m.

The home to Graveley’s fish and chip shop, on Cheltenham Parade, has been sold to property investor and developer Marrtree for £970,000.

Alongside Graveleys, the building is also home to five apartments across its first and second floors, allowing the building to produce an annual rental income of £73,400.

Eddisons has also sold office hub Harrogate Business Centre, on Hookstone Avenue, to Andrew Hillas Properties for £1.45m.

Established over 30 years ago, the building includes 46 offices and two workshops, with a 95% occupancy rate.

Steven Jones, associate agency director, said: “The property market in Harrogate is buoyant and the town’s desirability as both a place to live and to work gives it an edge over other nearby locations.

“The Harrogate leisure scene is particularly vigorous at present, with a number of national operators moving in.”

He added: “Needless to say, this cultural and economic resilience makes Harrogate a popular option for property investors and there is always an appetite in the market for new investment opportunities.”

Simon Mydlowski, partner at law firm Gordons, who acted on behalf of both purchasers, said:  “We are very happy to have been able to advise Marrtree and Andrew Hillas Properties on these successful acquisitions. Both businesses have a strong reputation as leading property developers and it was a pleasure to work with them to secure these deals.”

 

 

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