YORK-based property firm The Helmsley Group has acquired Woodlands House in Northampton town centre for £3m in its latest strategic purchase.
The company’s syndicated property portfolio now exceeds £125m of debt-free commercial property in 57 buildings across the UK.
Woodlands House is currently occupied by Towergate insurance. An existing Helmsley Group syndicate already owns Princess House, the building adjacent to Woodlands House.
Ian McAndrew, Director at The Helmsley Group said: “The Helmsley Group specialises in providing robust returns from commercial property to our qualifying clients. This is a strategic acquisition in a building conveniently situated for easy access to the town centre and located opposite Northampton General Hospital. The new university campus at Waterside is just a 10-minute walk away.”
“Our acquisition programme focuses on university and cathedral towns and cities with good transport links and growing economies.”
Helmsley Group investments are secured against mid to long-term contractual income from strong tenant covenants.
Ed Harrowsmith from The Helmsley Group added: “There has been strong interest in Northampton for its growth potential outside London and the South East.”
“Accessibility and status as a university town mean it’s fast becoming an option for overseas students and commuters alike. We see this acquisition as a prospect for future development.”