Eddisons and Gordons close on £2.4m of Harrogate property deals

Property consultant Eddisons and law firm Gordons have completed two commercial property investment transactions within a week in , with a combined value of £2.4m.

On Cheltenham Parade in the town, the building that is home to Harrogate culinary institution, Graveley’s fish and chip shop and seafood , has been sold to property investor and developer Marrtree for £970,000.

In addition to the restaurant, which is let to Graveleys, the first and second floors of the property contain five apartments and the building produces an annual rental income of £73,400.

Eddisons has also sold serviced office hub, Harrogate Business Centre, on Hookstone Avenue, to Andrew Hillas Properties, for £1.45m. Established over 30 years ago, the 11,500 sq ft space includes 46 offices and two workshops and has a 95 per cent occupancy rate.

Eddisons acted on behalf of the vendors on the sale of both properties. Steven Jones, associate agency director, said:

The property market in Harrogate is buoyant and the town’s desirability as both a place to live and to work gives it an edge over other nearby locations.

The Harrogate leisure scene is particularly vigorous at present, with a number of national operators moving in.

Needless to say, this cultural and economic resilience makes Harrogate a popular option for property investors and there is always an appetite in the market for new investment opportunities.

Graveleys Harrogate
Simon Mydlowski , Gordons; Steven Jones, Eddisons

Simon Mydlowski, partner at law firm Gordons, who acted on behalf of both purchasers, said: 

We are very happy to have been able to advise Marrtree and Andrew Hillas Properties on these successful acquisitions. Both businesses have a strong reputation as leading property developers and it was a pleasure to work with them to secure these deals.

Andrew Hillas Properties was represented by Bielby Associates and WSB Property Consultants represented Marrtree.


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