INVESTMENT SALE - 50 PICADILLY, YORK
In April 2007 AWS completed the sale of an unusual building at 50 Picadilly, York, comprising a former car showroom which was built in the 1950s and is currently used as an NCP car park on ground floor with a retail unit let to the Bed Stead Company fronting Piccadilly.Completion Date: 20/04/2007
The building whilst, life expired itself, occupies a very prominent site with good frontage to Picadilly within 100 metres of Yorks prime retailing centre and as such represented a significiant redevelopment opportunity subject to planning.With a footprint of 25,000 sq ft and a passing income of £72,000 per annum, the property was sold as an income producing investment with significiant redevelopment potential.
A price was achieved close to £1.9m which showed the purchaser a net initial yield of 3.6%.