Scottish property developer Buccleuch Property has acquired a retail asset at 2-4 St Helen’s Square in York from Legal & General for £5.2m.
The 10,726 sq ft building is currently leased to the Ivy Collection Restaurants and Castle Fine Art.
The Ivy has 9,286 sq ft at 2 Helen’s Square until 2042 at £35.50 per sq ft, while Castle Fine Art has 1,440 sq ft at 4 Helen’s Square until 2031 at £41.60 per sq ft.
The total passing rent of the building is about £390,000 per annum.
Buccleuch Property’s portfolio – across sectors including industrial, retail, healthcare and residential– is valued at £110m.
James Metcalf acted for Buccleuch Property; Jackson Criss acted for L&G.
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