A store on one of York’s busiest shopping streets has been repossessed by its landlords for the second time.
Kingdom Of Sweets on Stonegate is closed after the owners took the store back from the shop owners.
The building is owned by Greenridge Investment Management, which is based in London.
A notice on the window says that the landlord has “re-entered the property in accordance with the landlord’s power under clause 40 of the lease and has changed the locks”.
The lease agreement was with BDH Management Limited, an affiliate company of the Kingdom Of Sweets.
According to the sign, “no one can lawfully enter the premises unless they have been given authorisation by the landlord.
“Any attempt to enter the premises without the Landlord’s authority may be a criminal offence and result in a prosecution.”
Another notice says the building was entered by Parkinson Bailiff Services Ltd on 17 July, acting on behalf of the landlord.
The store is still fully stocked.
Second time around
It is the second time this has happened.
In January last year, the Kingdom of Sweets shop on Stonegate was repossessed by the owners.
But it reopened and started trading again a few weeks later.
Greenridge bought the property for £2.425 million in July 2018, when the retail unit was occupied by Jack Wills on a rent of £115,000 a year.
But Jack Wills’ Stonegate store ceased trading in November 2020.
Kingdom of Sweets opened on Stonegate in April 2021, selling a huge range of confectionery, including much imported from the USA. At the time, its arrival was hailed as part of York’s bounce back from lockdown.
Greenridge and BDH Managment Ltd, a company 75% owned by Kingdom of Sweets, first signed a lease for the store on 10 December 2020.
The national press have reported how a London council had launched an investigation into the proliferation of American candy stores, including Kingdom Of Sweets, amid allegations that some have failed to pay property taxes.
Numbers 18-20 Stonegate is a Grade II listed building, built as a townhouse in the 1700s.
[tptn_list limit=3 daily=1 hour_range=1]