Kames Capital secures £4.2 million acquistion of Harrogate’s Nidderdale House

10 May 2017

Kames Capital, represented by international real estate advisor Savills, has acquired Nidderdale House in Harrogate from Dante Capital Limited for £4.2 million, reflecting a net initial yield of 7.8%.

The self-contained site features a 20,499 sq ft (1,904 sq m) office building and a 15,973 sq ft (1,483 sq m) warehouse.  The properties are let to Arrow Enterprise Computing Solutions as the firm’s UK headquarters on two separate 10-year leases, with a total contracted rent of £320,000 per annum.

Located on Beckwith Knowle, close to the junction with Otley Road, the property neighbours Cardale Business Park and is circa 1.5 kilometres from Harrogate town centre.

Ric Tsang, assistant fund manager at Kames Capital, comments: “Harrogate is an extremely attractive area for investment and we are absolutely delighted to be able to secure Nidderdale House at such an attractive price.”

Mark Wilson, associate director in the investment team at Savills Leeds, adds: “Opportunities to purchase headquarters office buildings with a strong tenant covenant and reversionary rent in affluent spa towns such as Harrogate are rare, making Nidderdale House a highly appealing investment.  We are pleased to have secured its acquisition on behalf of Kames Capital.”

 
 

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Key Contacts

Mark Wilson

Mark Wilson

Associate Director
Investment

Savills Leeds

+44 (0) 113 220 1254