The subject property comprises a dual fronted four storey, plus basement, retail building with a Grade II listed frontage.
The Coney Street elevation was built in 1907 and comprises a timber and plastered frontage with barge boarded gables and slate roof. The construction to rear appears to be brick and concrete frame with concrete floors throughout. The roof is flat and there are a mixture of timber glazed, steel glazed and aluminium glazed windows.
Internally, the property is largely open plan, with it previously used as a retail store. We do believe that some areas would benefit from aesthetic improvements.
Location
The property has two main frontages, on Coney Street and Market Street which are both prime pedestrianised retail areas of York City Centre. They are made up of national retail operators to include Boots, WH Smiths, EE, Next, H Samuel and Natwest Bank. There is also the Riverside Coney Street Redevelopment Project located close to the subject which is ongoing and likely to boost the local economy.
York has good transport links running between Leeds which is 27 miles to the south west and Newcastle to the north. There are over ten car parks within a ten minute walk of the subject.
Accommodation
Approximate gross internal floor areas are as follows:
Basement - 712.3 sq m (7,666.8 sq ft)
Ground floor - 713.1 sq m (7,675.7 sq ft)
Mezzanine - 53.8 sq m (579.3 sq ft)
First floor - 745.2 sq m (8,021.6 sq ft)
Second floor - 757.9 sq m (8,157.4 sq ft)
TOTAL - 2,982.3 sq m (32,100.8 sq ft)
Terms
Planning - We recommend for interested parties to complete their own planning checks with City of York Council.
We understand that the property has extant planning permission for the conversion of existing retail unit (Use Class E) to restaurant and shop (Use Class E) at ground and basement level, and change of use of upper floors from retail (Use Class E) to a 64 key aparthotel (Use Class C1) including provision of additional storey on roof and associated external alterations (ref: 23/00059/FUL)
There is also listed building consent for internal and external alterations with change of use and provision for additional storey on roof (ref: 23/00060/LBC).
Rateable Value - The Rateable Value for the subject property is £277,500.
Please note that as the building is listed, business rates are not currently payable.
Tenure Information - The property is held by way of a freehold title, under title number NYK190887.
The property is being sold with vacant possession. However, we do have forthcoming enquiries from a number of hotel operators which would be of interest to any purchaser.
Price - Guide £5,500,000 subject to contract.
VAT - All figures quoted are exclusive of VAT which may be applicable.
Legal Costs - Each party will be responsible for their own legal costs.
Energy Rating - The property has an EPC rating of B.
Specification
- Central York location
- Grade II listed frontage
- Planning permission for conversion into restaurant and 64 bed aparthotel
- GIA 32,101 sq. ft.
- Fronts Coney Street and Market Street
- Vacant Possession
- Ongoing redevelopment of Coney Street