This substantial freehold property is located in the heart of York's city center, featuring dual frontages on Coney Street and Market Street. Spanning approximately 32,101 sq. ft. across four levels plus a basement, this building offers excellent renovation and investment opportunities, particularly given its current Grade II listed shopfront.
The property has existing planning permission for a versatile mixed-use development. The proposed changes include converting retail units on the ground and basement levels into restaurants and shops (Use Class E). An exciting aspect of this plan is the potential transformation of the upper floors from retail space to a 64-room aparthotel (Use Class C1), along with an additional storey on the roof to maximize space and enhance functionality. Moreover, there is consent for both internal and external alterations to preserve the building’s historic features while accommodating modern needs.
Strategically positioned within a bustling pedestrian zone, this location commands significant foot traffic from shoppers and tourists alike. Nearby amenities include well-known national retailers such as Boots and Next, ensuring consistent consumer activity in the area. Furthermore, the ongoing Riverside Coney Street Redevelopment Project promises to invigorate the local economy, making this property even more appealing for potential investors.
York benefits from excellent transport links, being situated between Leeds (27 miles southwest) and Newcastle to the north. With over ten public car parks within a ten-minute walk, accessing this vibrant city is convenient for both residents and visitors.
Currently offered with vacant possession, there has been notable interest from hotel operators regarding the aparthotel concept, presenting an attractive opportunity for buyers looking to capitalize on York's hospitality sector.
Overall, with its prime location and extensive development potential, this property stands out as a promising venture for those looking to invest in one of York’s most sought-after areas.
