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Property firm sells Holderness Gateway development in east Hull

Property firm sells Holderness Gateway development in east Hull

Property firm sells Holderness Gateway development in east Hull

3 February 2016

Dransfield Properties Ltd has completed the sale of the company’s Holderness Gateway development in east Hull which opened last summer.

The Barnsley based company has sold the district centre shopping location for £5.175 million, generating a yield of 6.94%, to Gilgamesh (Hull) LLP.

The development, which neighbours The Mount Retail Park off Holderness Road in east Hull, was completed in summer 2015 and is anchored by a 25,000 sq. ft. B&M store. 

Delivering 34,206 sq. ft. of retail space on a key site in east Hull the development also has a 90 space car park.
As well as a B&M store and Garden Centre the development houses a range of tenants including Subway, The Burger Shack and Hull Animal Welfare Trust. Holderness Gateway is fully let.

Simon Bland, Head of Investment at Mason Owen Property Consultants acted for Dransfield Properties and Landswood De Coy represented Gilgamesh (Hull) LLP.  Full Service Law Firm JMW LLP advised Dransfield Properties on the sale.

Managing Director of Dransfield Properties, Mark Dransfield, said: “We have been working towards delivering a development for this key site in east Hull for many year and we were delighted to be able to bring the Holderness Gateway development to fruition last year.

“The sale of the development allows us to invest in new projects which the company is currently working on.”

Dransfield Properties is currently on site in Morpeth in the north east delivering a new retail development neighbouring the company’s Sanderson Arcade and the firm’s flagship £50 million Fox Valley development is due to open in June this year.

For more information about Dransfield Properties visit www.dransfield.co.uk
 

For further information, contact:

Public Relations Department, Dransfield Properties Ltd
Tel: 01226 360644
Email: pr@dransfield.co.uk