LaSalle Investment Management has announced the completion of the purchase of Tanner Row Multi Storey Car Park in York for £10.88 million (approx. €14.5m).
The property at 25 George Hudson Street includes a car park providing 289 parking spaces and is situated approximately 300 meters southwest of York's prime retailing areas. The property was recently refurbished to include two retail units totaling 10,705 ft² and a shell office unit of approximately 9,000 ft².
The car park is let on a 25-year lease to National Car Parks from May 2007 with stepped increases for the first five years and then five yearly thereafter. The retail units are let to a supermarket and a restaurant for 10 and 25 years respectively.
LaSalle Investment Management was advised by Dixon Wimbush and GVA Grimley.