Quartet of deals as former Coggles premises is snapped up for £1.4 million

Published on: 2nd September 2014

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.

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Our award winning property agents provide transactional services across the UK to owners, occupiers, investors and developers.

Our agency teams specialise in regions and industries around the country, providing local insight and technical knowledge that's relevant to your business, property and location.

We add value by offering commercially astute advice, and alerting you to the opportunities and threats that might affect your transaction.

We'll also work with our property and building consultants to advise you on planning, valuations, business rates, dilapidations, building surveys, lease and rent reviews, as well as talk to our in house architects about any fit-out requirements.

 

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