London developer snaps up York pub as part of aparthotel scheme

A pub in York has been acquired by a London-based developer with plans in place to create an aparthotel scheme.

Acting on behalf of a private client, the specialist markets team at CBRE Leeds has sold the Falcon Tap pub on Micklegate to Almero Holdings, for an undisclosed sum, as part of the company’s plans to expand its professional housing offer across the UK.

Plans are in place to create an aparthotel scheme, but the public house will be retained.

The Falcon Tap is a four storey Grade II listed property, which will be retained with planning granted for external alterations. The remaining site will be converted into an aparthotel with planning granted for the renovation of the upper floors to form two apartments, and construction of two residential blocks to the rear to create nine apartments.

Sam Portrykus, senior surveyor for the specialist markets team at CBRE Leeds, said: “We are pleased to announce the recent sale of the Falcon Tap pub to Almero Holdings. The proposed aparthotel scheme will be a welcome addition to Micklegate, which has experienced a cultural transformation and is fast becoming more gentrified. York is an attractive cathedral city and internationally renowned tourist attraction, so the new development promises to complement the thriving pub and bar scene in the area.”

CBRE acted as joint agents to the vendor with Steadman Brierley.