A property developer has backed the York’s ‘thriving’ city centre by buying up three more business properties.
The Helmsley Group has made a further multi-million pound investment in the heart of York by acquiring the buildings.
Two of the units, let to Card Factory and Urban Outfitters, are located next to each other on High Ousegate.
The third building on a corner plot of Davygate is currently occupied by Caffè Nero.
The purchases, completed from three separate South East based sellers, is another significant investment by 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 purchase of numbers three to seven with occupiers that include JD Sports, Mango.
More recently they announced deal with Rosa Thai Café, which will begin fitting out the vacant restaurant opposite The Ivy in February.
More could follow
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 alongside creating resilient high streets for the future.”
More acquisitions could follow – Ed said the company will continue its investment into York’s retail and leisure core.
“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 that York and the wider region are able to continue to thrive.”