Property investment group snaps up 40,000 sq ft city centre Boots building

A 40,000 sq ft building, which houses a Boots store, in York city centre has been acquired by property firm Helmsley Group and a consortium of its investors.

43, Coney Street is currently let to Boots UK for a further four years. The site, which was acquired for an undisclosed sum, extends to 0.5 acres within the city centre.

Edward Harrowsmith, director at Helmsley Group says: “As a York investor and developer, we have a strong vested interest in the City. Coney Street has its fair share of challenges at the moment, as do many other high streets across the country. We still see a site of this size in such a prime location as a fantastic opportunity..

“We plan to work closely with Boots to improve and regenerate the building, should they wish to extend their lease beyond its expiry.

“Given its location and size, the property also lends itself to being an exciting mixed use development opportunity for the longer term. The building’s upper floors have views across the River Ouse and Coney Street as well as the Minster.”

Harrowsmith added: “The rear of the property even has potential to open up a river walkway, which could be a real transformation. This would vastly improve footfall in the area as part of the tourism and retail trail.

“We intend to start consultation with the Council and with other stakeholders in the vicinity to help improve and update Coney Street as a retail and leisure destination.”

Tim Cross, Head of Commercial Property at Langleys, said: “We are delighted to help Helmsley Group in acquiring this property which shows their commitment to York and also their  strong belief in Coney Street. This is the latest of a series of deals by Helmsley Group within the City walls of York.”