Helmsley Group further demonstrates commitment to York’s future with investment hat-trick

Helmsley Group further demonstrates commitment to York’s future with investment hat-trick

Property investment and development specialist Helmsley Group has acquired three prominent addresses occupied by leading brands in the heart of York’s retail area.

Two of the units, let to Card Factory and Urban Outfitters, are located adjacent 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 the recently announced deal with Rosa Thai Café, which will begin fitting out the vacant restaurant opposite The Ivy in February.

Commenting on the latest acquisitions, 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.”

Looking ahead, Ed said a key ongoing priority for Helmsley 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 that York and the wider region are able to continue to thrive.”

Helmsley Group and Mulgrave Properties complete on luxury residential development

Helmsley Group and Mulgrave Properties complete on luxury residential development

All units at Mount Vale Gardens in York, a joint venture between property development specialists Helmsley Group and Mulgrave Properties, have been sold.

The development, comprising 12 four- and five-bedroom family homes, is located within easy walking distance of York train station, with each unit benefitting from high-specification kitchens and bathrooms, advanced security systems and landscaped gardens.

Mount Vale Gardens is just a short walk from The Knavesmire, home to York Racecourse, providing plenty of green space for leisure and exercise. Residents are also within walking distance of a selection of outstanding local primary and secondary schools, including Scarcroft Primary, The Mount, St Peter’s, and Bootham School.

Max Reeves, development director at Helmsley Group, said: “We are delighted to have further developed our partnership with Mulgrave Properties through our work on this development. As developers who intimately understand the York property market, we understood that while they are sought-after, high-specification homes of this size and quality are often difficult to come by.

“The speed with which all units were sold demonstrates the continued resilience of York’s luxury property market in spite of the pandemic, and we look forward to developing similar residential schemes in the future.”

David Smith, sales director at Mulgrave Properties, added: “It’s been very gratifying to see how quickly the development has sold, which is testament not only to the Helmsley and Mulgrave’s strong working relationship, but also to both developers’ understanding of the wider market in which they operate.

“The feedback from residents so far has been overwhelmingly positive, with many already seeing significant return on investment through reduced maintenance costs and increased energy efficiency, without needing to compromise on space.”

Standard Life Trustees swoops again for Old Fire Station office space

Standard Life Trustees swoops again for Old Fire Station office space

Helmsley Group has started 2022 with a bang after selling a further part of its The Old Fire Station development in York.

Standard Life Trustees, which acquired the ground and mezzanine floors of the office element of the mixed-use development last year, has bought the adjoining commercial unit from Helmsley and its joint venture partner on the scheme, London Ebor.

The unit had a guide price of £460,000, which represented a net initial yield of 6.24%.

Reed In Partnership has signed a lease on behalf of the Driver and Vehicle Standards Agency (DVSA), with the unit operating as a driving theory test centre.

Matthew Tootell at Bowcliffe acted for the landlord on the letting to Reed In Partnership and Richard Dunn of Sanderson Weatherall acted for the purchaser. Jonathan Wade of Wade Property Consultants acted for Helmsley and London Ebor on the sale of the unit.

Helmsley and London Ebor initially sold two floors of grade A office space to Standard Life Trustees off a guide price of £1.1m on a 999-year lease last year. This suite is occupied by patent and trademark attorneys, Secerna.

Max Reeves, development director at Helmsley Group, said: “This latest commercial transaction at The Old Fire Station is further evidence that, despite the ongoing uncertainty brought by the Covid-19 pandemic and its impact on our working lives, investment and occupational appetite for quality office space continues unabated.

“We have been delighted with the positive impact The Old Fire Station has made to the central York property market and we look forward to 2022 with ongoing confidence.”

As well as providing much needed office space in central York, The Old Fire Station scheme has raised the bar for residential standards, incorporating a total of 14 apartments and townhouses within the setting of the historic former fire station.

The iconic building dates back to 1856 when it was built as Trinity Chapel, before its conversion to a fire station in 1938.

Matthew Tootell, of Bowcliffe, said: “Reed in Partnership’s continued commitment to the York market on behalf of public and government sector occupiers is positive news for the city and demonstrates the strength of The Old Fire Station’s offer and location.”

“The accommodation offered a perfect solution for the DVSA, providing high quality accommodation with easy access to the city centre.”

Richard Dunn, partner at Sanderson Weatherall, added: “The Old Fire Station continues to provide sound investment opportunities for our client, Standard Life.

“Despite the likelihood of hybrid working continuing, the dynamics of the York office market remain robust, with demand high.”

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