A series of deals, including the sale of two former Coggles premises completed on one of York’s historic streets has illustrated the city’s strength as a retail destination and a sound opportunity for investors.
Under instruction from Begbies Traynor, administrator of independent fashion retailer Coggles; Sanderson Weatherall was instructed to handle the sale of the former premises of the business at number 91-93 and an investment asset at 58 Low Petergate.
The former flagship address and home of Sarah Coggles for over 25 years, number 91-93 Low Petergate, a spacious 3,145 sq ft property has been snapped up by a private investment company for in excess of £1.4m. Sanderson Weatherall has since secured a new tenancy on behalf of the new owner to up and coming fashion retailer Mint Velvet.
Number 58, a former holding of the business, has also been sold to a private investor for the sum of £673,900 under an existing tenancy to The Fudge kitchen.
Peter Heron, Partner and retail specialist at Sanderson Weatherall said; “Low Petergate along with a handful of similar streets in York provides a prime investment opportunity in this region. Their availability is scarce so when a property comes to market there is considerable demand and enquiries in this instance were very high.
“There’s no question York’s appeal as a tourist destination makes it a secure and popular choice for retailers.”
Number 73 formerly leased by Sarah Coggles, a 670 sq ft property was also re let by Sanderson Weatherall to the Sweater Shop.