York-based property investment and development specialist, Helmsley Group, has made a key city centre acquisition.
In a multi-million pound deal, it has purchased 19 Coney Street - a 50,000 sq ft retail unit currently occupied by Next and Monsoon.
The acquisition, from NFU Mutual, is the latest in a series made by Helmsley on the road, with the company owning several other buildings at the major city centre retail destination.
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It is described as integral to Helmsley’s wider ambition to regenerate Coney Street.
Ed Harrowsmith, investment director at Helmsley Group, said: “This is a significant acquisition for us, especially as a proud York-based business with ambitions to bring a new lease of life to York’s riverfront and redevelop Coney Street as a high-quality commercial destination.
“The purchase of 19 Coney Street from NFU Mutual not only brings another important building into local ownership but is the final piece of the puzzle in enabling us to move forward with our ambitions and help realise the potential of this underutilised area of the city.”
Helmsley already owns 39 to 43, currently let to Boots and WH Smith, as well as three to seven, housing JD Sports, Lush and Mango.
The latest acquisition is integral to Helmsley’s wider ambition to regenerate Coney Street.
Max Reeves, development director at Helmsley Group, added: “Helmsley Group has made a continued commitment to the regeneration of Coney Street, as demonstrated by this most recent acquisition. This is a deal that has been a long time in the making, and we’re delighted it has been completed. We look forward to continued collaboration with City of York Council and are excited to share our vision for Coney Street with the public and other stakeholders and obtain their valuable input over the months to come.”
James Bradley at Knights Plc acted on the purchase for Helmsley.
