Member Article

Work begins on £7 million residential scheme in York

Work has started to breathe new life into a derelict former office building in the heart of York to transform it into 50 apartments.

The building on Holgate Road, which for the majority of its life was home to Network Rail, is now benefitting from a £7m investment which will see it converted into a contemporary residential scheme. The development will be known as ‘The Walk’ to reflect its convenience to York railway station and the city centre.

The development is being launched at the time of a buoyant residential market in York, which is providing significant interest, especially for properties close to the city centre as people look to make the most of what the city has to offer with an ever improving buzz of retail and leisure occupiers.

A unique feature of this city centre development is its gated environment and garden landscaping which includes an urban orchard. The property also provides a very handy pedestrian link directly to York train station.

The building is currently being completely stripped back to the original concrete frame and will be re-clad with modern energy efficient materials to create a feature building on this important arterial road into the city centre.

Maryanne Smith, Branch Manager at the York office of William H. Brown, the exclusive selling agent, says: “The name ‘The Walk’ highlights one of the main features of this exciting new addition to the York marketplace. It is literally two minutes’ walk to the station and only a few minutes longer into the city centre.”

The Walk is a joint development between Caddick Developments and The Villas Venture and will be co-ordinated by York-based Helmsley Securities Ltd. Helmsley Securities Ltd has been behind some of the most prestigious residential developments in York including Merchant Exchange apartments, Westgate apartments on the banks of the River Ouse, Dixons Yard and Lendal Tower for which it has won numerous design awards.

Myles Hartley, managing director at Caddick Developments, adds: “The strength of experience in the development and construction teams provides a clear indication of the design and build quality at The Walk. We are hugely excited to be on site and to see our aspirations for the scheme be brought to life over the coming months. I’m sure interest in the apartments will be high from those looking for contemporary modern city centre living and savvy investors.”

Caddick Developments acquires land and buildings with potential for development across commercial and residential property markets. Its wide spectrum of developments range from major mixed-use urban regeneration projects, large-scale industrial and office developments through to city-centre retail schemes. The company is making a real play to increase its presence in the residential property market across the UK and earlier this year announced a partnership with Apache Capital to undertake new build residential schemes in a number of key UK cities including Leeds, Manchester and London.

The conversion of the old office building has already started on site and The Walk looks set to be completed early 2016.

This was posted in Bdaily's Members' News section by Robert Beaumont .