Helix Property Advisors, acting on behalf of HPPUT, has acquired the freehold investment of a petrol filling station, let to BP, and a drive through restaurant, let to McDonalds Restaurants, located just north of the city of York. The investment was purchased for £6,225,000 and the transaction reflects a net initial yield of 5.09%.
The 1.968-acre site is located at the junction of the A59 Boroughbridge Road and York’s outer ring road (A1237). The newly refurbished petrol station is operated by BP and incorporates a M&S “Simply Food” forecourt shop. The new, two-storey, drive through restaurant, which is adjacent to the filling station, was built specifically for McDonalds and features 51 onsite car parking spaces. The two properties, totalling 9,875 sq ft, are let on separate 25 year leases from 2015.
Yvonne Smith, from Helix Property Advisors, said: “This transaction forms part of a planned expansion of our client’s portfolio and is in line with our investment strategy to acquire and secure long-term income in alternative sectors in the regions.”
ADS Real Estate Advisors represented Helix and James Andrew International represented the vendor.
