Helmsley seals deal on city development opportunity

A COMMERCIAL building in York has been earmarked for redevelopment after being bought in a deal worth more than £1.5m.

York property investment company The Helmsley Group, acting on behalf of the Kings Square Venture, has purchased the commercial building comprising four retail units and three empty upper floors which will be converted into residential apartments.

John Reeves, chairman of The Helmsley Group, said: “It’s terrific to be able to buy well for clients as well as be able to bring back into use space above retail that can be converted into much needed living accommodation. It’s a win-win situation – creating new homes for sale whilst enhancing clients’ returns in the process.’’

The property is located on the corner of Kings Square and Church Street.