SHARES in a lucrative commercial property in York have been snapped up by clients of Swinton-based Capital and investment Brokers (CIB).
The firm identified the building on the city's Science Park as an investment opportunity for its clients after working on a number of similar deals in prestigious locations elsewhere in the country. The building boasts a blue chip tenant on a long-term lease, which made it an extremely attractive proposition.
Peter Johnson, a director at CIB, said: "Syndicated property is a brilliantly simple idea. Most of us are familiar with the concept of several investors clubbing together to buy a racehorse, but it is also possible to do business in essentially the same way when it comes to investing in commercial property.
The rental yield on the York property is about 6.7 per cent and a tenant is already in place on a ten-year lease.
Each of the clients will receive a proportion of the rental yield, depending on the amount that they invested.
Updated: 09:32 Wednesday, January 05, 2005
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