DEVELOPERS have bought the WHSmith building in York’s Coney Street - and say they are planning to revitalise unoccupied upper floors which are "wasting away".

Helmsley Group has reassured customers that its purchase of 39-41 Coney Street will not lead to the closure of the leading books, stationery and gifts retailer, which also now hosts a post office.

Investment director Ed Harrowsmith said WHSmith had a lease which expired in March 2025 and it had recently sublet part of the property to the Post Office, which had relocated from Lendal.

“This has had a very positive impact on footfall for the national retailer,” he said.

“Coney Street is one of WHSmith’s top performing high street stores and we’re looking forward to working with them in the future to keep them longer term, while maximising the currently underutilised upper floors which are vacant.”

He said the building’s acquisition from Aberdeen Standard Investments - in an off market deal for an undisclosed sum - followed Helmsley’s strategic purchases of other prominent buildings on York’s primary shopping street, including the building next door which is occupied by Boots.

The Press reported in April that a hotel or apartments could be built above the Boots store in a scheme which might help to revitalise the struggling street, where a number of major stores have closed.

It emerged that the project could also involve the creation of a long-mooted new riverside pathway alongside the River Ouse between Ouse Bridge and Lendal Bridge, and even the launch of a river taxi service.

Mr Harrowsmith said that like other properties in Coney Street, the WHSmith building offered excellent retail space as well as unoccupied upper floors which were in need of revitalisation.

“The key to bringing life back to the high street in general is providing alternative uses to the many vacant floors above retail space within our cities which are currently just wasting away,” he said.

“It is Helmsley Group’s view that Coney Street offers a rare opportunity for key stakeholders in York to work together to take one of its most prized assets, but one that is tired and lacks the appeal of many others in the city due to underinvestment, and unlock its potential, especially those buildings which have potential to be river facing.

“Helmsley has held a number of positive discussions with City of York Council about the future of Coney Street and we look forward to these continuing.”

James Bradley, senior associate at Langleys Solicitors, which acted on behalf of Helmsley, which is a property investment, syndication, development finance and property development specialist, said: “The purchase reiterates the group’s confidence and commitment to investing and refreshing Coney Street.”