A prominent York building which has been empty for four years is set for redevelopment after being acquired by a London property company.
Number 48 Coney Street used to be home to the retailer TK Maxx. It shut in 2022, and the building was earmarked for a Hard Rock Café.
But it pulled out in 2024, and the four-storey building was put on the market for £5.5 million.
The asking price was later reduced to £4.95 million. And it has now been acquired by Criterion Capital, a developer owned by billionaire Asif Aziz.
It is planning to turn the property into a Zedwell hotel. The Zedwell concept is automated hospitality.
“Guests benefit from a fully digital journey – including self check-in kiosks, digital key access and 24/7 AI-powered WhatsApp assistance – while advanced soundproofing, purified air systems, ambient lighting and body-cushioning mattresses create calm, restorative spaces within busy city centres,” the company says.
There are five Zedwell hotels in London, and the brand recently expanded into Oxford.
Built in 1907 number 48 Coney Street features a striking Grade II-listed mock-Tudor façade.
“The redevelopment will preserve the building’s character while introducing a contemporary hospitality use designed for modern travellers, contributing to the continued regeneration of the iconic Coney Street,” the company adds.
It says visitors spent more than £249 million on hotel accommodation in York in 2025, “underscoring strong demand for centrally located hospitality in the historic city”.
Halima Aziz, head of hotels at Zedwell, said: “York is one of the UK’s most historic cities and a powerhouse for tourism, welcoming millions of visitors every year.
“It is an exceptional location for the next stage of Zedwell’s growth as we expand into destinations with strong and enduring visitor demand.
“With a current and committed pipeline of 9,000 rooms by 2028, York represents another important milestone in our strategy to build a scalable platform in high-demand gateway cities.
“Projects like this show how heritage buildings can be thoughtfully reimagined for contemporary audiences while preserving the character that makes these cities so special.”
