‘Interest stronger than expected’ at £35m York apartment scheme

The listed real estate developer behind a £35m apartment scheme in York has this morning revealed that 22 apartments have already been sold – totalling £5.8m in purchase price – since launching in June.

Updating the markets this morning, Palace Capital said that “interest has been stronger than expected” at its Hudson Quarter scheme. The firm added that it was a reflection of “the quality of the product and the buoyancy of the York market.”

Hudson Quarter is just inside the City Walls and opposite York Railway Station.

Work is underway to transform the former Hudson House site into a development featuring 127 luxury apartments, a 35,000 sq ft office building, commercial space, landscaped grounds, parking spaces and a pedestrian and cycle route through the site, to connect with Toft Green.

The scheme was formally launched on 20 June, with an initial 20 apartments offered for sale. Now, 22 apartments, with an aggregate purchase price of £5.8m have now been reserved with deposits paid. The launch of the second phase is under consideration and Palace Capital looks forward to updating shareholders in due course.

Construction is currently on time and on budget, with completion expected in early 2021.