GMS Estates complete the purchase of York House

York House includes five ground-floor retail units, two commercial units in the basement and 26 flats on the upper floors, spanning 29,707 sq. ft, as well as parking to its rear. The mixed-use scheme offers significant value-add opportunities, including the refurbishment or redevelopment of the residential parts, review of existing lease agreements and extension of the parking area.

Adam Kerven, Partner, Residential Transactional and Living Markets at Allsop, said: ‘‘Opportunities to acquire unbroken mixed-use blocks of this size in a popular Zone 2 location like Camden are scarce, which explains why we received a lot of interest from a range of potential buyers, including private property companies, funds and overseas buyers. The blend of residential and commercial income continues to be a big draw for investors looking for solid long-term income and the opportunity to drive further value through enhancement works”.

Jason Smith, Executive Director at GMS Estates, said: “York House is a rare asset given its size, location and value-added potential. Camden benefits from a strong footfall and is an attractive entertainment, business and residential destination, all of which makes York House an appealing investment opportunity.”

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