Train company head office sold in multi-million pound deal

Train company head office sold in multi-million pound deal

The York headquarters of Virgin Trains East Coast has been acquired by a syndicate of buyers in a multi-million pound deal.

East Coast House is located on Skeldergate, alongside the River Ouse, and offers views over York Minster and Clifford’s Tower.

The property has been acquired by the East Coast House Syndicate, led by The Helmsley Group, from Debonair Estates. The syndicate was advised by York-based Langleys Solicitors.

The whole of the property is currently let to the Virgin Trains East Coast Mainline Company, which operates rail services between London, Yorkshire, the North East and Scotland.

Langleys has advised The Helmsley Group on a number of acquisitions into its syndicated property investment portfolio.

Ian McAndrew, director at The Helmsley Group responsible for its syndicated property portfolio, said: "This is one of York’s premier office buildings. It has a fantastic location alongside the river and the current occupant has the residue of a 10-year lease expiring in 2024."

Tim Cross, head of commercial property at Langleys, said: "We are pleased to conclude this acquisition on behalf of the syndicate, which follows a number of other significant investments by The Helmsley Group across York and the North of England.

"This latest transaction once again underlines the popularity of the city of York for property investors."