Posted on 08 Jun 2015

NEW PLANS UNVEILED FOR CENTRAL YORK BUILDING


The owner of a large York property located close to the city's railway station has submitted plans to convert the majority of the building to residential accommodation. The remaining 37,000 sq ft would remain as offices but be refurbished to grade A standard.

Palace Capital, a property investment company that focuses on commercial property outside London, has submitted a planning application to the City of York Council in respect of Hudson House which it acquired in 2013.

The property was built in 1965 and currently comprises approximately 103,000 sq ft of office space, of which about 55,000 sq ft is let on short term tenancies, and the remainder has been empty for some time.

Palace Capital has made a planning application for a change of use to redevelop about 60,000 sq ft of the building into 82 studio, one and two bedroom apartments, with the remaining 37,000 sq ft to will continue as refurbished offices.

Palace said discussions with the City of York Council have been ongoing for some time and it hopes to receive approval in the autumn.

Neil Sinclair, chief executive of Palace Capital, said: "This is an exciting opportunity both for the City of York and Palace Capital. It demonstrates the active management that is ongoing right across the Company's portfolio.

 

"York is a fast growing city with a strong residential market and is increasingly attractive to major office occupiers. For example, Hiscox, the large insurance company, is due to complete its new 50,000 sq ft office building shortly."

 

 

 

NEW PLANS UNVEILED FOR CENTRAL YORK BUILDING