Exciting prospects announced for hotel or apartments on York’s Coney Street | Investors Forum YorkInvestors Forum York

A well overdue scheme for a regenerating buildings in Coney Street, one of York’s major retail streets is now in the pipeline, thanks to developers, Helmsley Group.

Together with a consortium of its investors, Helmsley Group has paid an ‘undisclosed sum’ for Boots’ flagship York store – a 40,000 square foot building which has a large amount of retail space that is currently unoccupied.

Exciting prospects have been announced recently in The Press, claiming the project could also “involve the creation of a long-mooted new riverside pathway, alongside the River Ouse between Ouse Bridge and Lendal Bridge,’ including the possibility of a river taxi service.

Director Edward Harrowsmith from Helmsley Group told The Press, “the building was currently let to Boots UK for a further four years, and Helmsley planned to work closely with Boots to improve and regenerate the property – should it wish to extend the 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,” he said.

“The building’s upper floors have views across the River Ouse and Coney Street as well as the Minster.” He also said that the rear of the property – fronting straight on to the Ouse – even had the 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,” he continued.

Plans have been mooted for many years to create a walkway between Ouse Bridge and Lendal Bridge on the Coney Street side of the Ouse but this has never come to fruition. Mr Harrowsmith said Helmsley would also “explore the possibility” of developing a river taxi to the site from land near the railway station which it owns.

He said Helmsley intended 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. He claimed that as a York investor and developer, it had 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,” he said. “We still see a site of this size in such a prime location as a fantastic opportunity. We’re already seeing improved sentiment in the locality from investors and occupiers alike. We have no doubt that given the large tourism volumes our city attracts, this is an area everyone can enjoy as part of the York experience for years to come.”

Helmsley’s other York city centre investments include The Old Fire Station, Nessgate, Mill House, Piccadilly House, East Coast House and Queens House.

This news is courtesy of the Press. Please visit their website for more news.

If you are interested in finding out more about this development or other investment opportunities in York, please contact the InvestorsForum York today:

01904 652729 sam.chandler@cityletsyork.co.uk leanne.dalley@cityletsyork.co.uk