Property firm completes another multi-million pound investment in city centre
Property investment and development specialist Helmsley Group has acquired three prominent addresses occupied by brands in York’s retail area.
Two of the units, let to Card Factory and Urban Outfitters, are next to each other on High Ousegate, while the third building on a prime location in Davygate is currently occupied by Caffè Nero.
The purchases, completed from three separate South East based vendors, represent a further significant multi-million pound investment from York-based Helmsley Group following a series of acquisitions across the city centre in recent years.
These include several deals on the city’s historic Coney Street, including the recent purchase of numbers three to seven with occupiers that include JD Sports, Mango and a recently announced deal with Rosa Thai Café, which will begin fitting out the vacant restaurant opposite The Ivy in February.
Ed Harrowsmith, investment director at Helmsley, said: “Despite the Covid-19 pandemic, Helmsley has always been confident in York as a thriving city centre and brilliant place to work, shop and visit.
“This confidence has been further demonstrated over recent months with York city centre footfall continuing to remain at positive levels, proving that there is life after the pandemic, with re-based rents and business rates reductions set to be ongoing drivers of investment confidence.
“These three core city centre purchases offer positive rental income on good terms in prime locations, meaning they are not only sensible purchases managed by Helmsley on behalf of our investors, but equally form an important part of our ongoing strategy to support the York retail sector.”
Looking ahead, he said a key ongoing priority for the company would be to continue its investment into York’s retail and leisure core.
He added: “We see areas such as Coney Street as key to the city’s regeneration and a blueprint for how other areas of York, and beyond, can recover from the ramifications of the pandemic.
“We will continue to work positively with the city’s wider investors and stakeholders to ensure York and the wider region are able to continue to thrive.”