Redevelopment set for listed York building
A MAJOR redevelopment programme is set to take place at a York city centre property.
Hunter House – 120 metres from York’s iconic Minster – has been acquired by Yorkshire property company S Harrison Developments for an undisclosed sum.
The deal, which is subject to planning approval, will see the grade II listed building in Goodramgate benefit from a £5m redevelopment programme which would retain 9000sq ft of retail space at ground floor and basement level and create 14 new apartments, several with spectacular Minster views, on the upper floors.
The acquisition is one of a number of pipeline schemes across the region for York-based S Harrison which posted pre-tax profits of £3.46m (2012: £1.6m) on a turnover of £28.64m (2012: £7.22m) in the year to December 31 2013 and holds significant cash reserves for new investment opportunities.
Director David Clancy said: “This is a rare opportunity to acquire and return to productive use such a quality property in such a prestigious location at the heart of the city.
“With some of the retail space and much of the upper floor office space currently underutilised, there is a great potential to revitalise the retail element and develop the rest of the space in line with the city’s ‘living above the shop’ aspirations. With spectacular Minster views we expect no shortage of interest in the planned one and two-bed apartments, if councillors approve our proposals.”
Harrison has already drawn up initial plans for the site. The company hopes to submit a planning application later this year and will start work immediately on the residential conversions if the application is approved.
City of York Council leader, James Alexander said: “This is great news for the city and an indication that York is very much ‘open for business’. I’m delighted that an award winning developer with strong York connections is committed to retaining retail and leisure provision in the centre of York and creating new homes in currently unused office space. It’s good to see significant further investment in York city centre following on from recent developments at Bonding Warehouse, the White Swan Hotel and St Leonards.”
Leeds lawyers Schulmans and the Leeds office of agents Knight Frank acted for Harrison on the deal. Pinsent Mason and Knight Frank Investment Management, both from London, acted for the vendor. Hudson Moody in York is advising Harrison on the residential element of the scheme.
