Stonebow House, York, YO1 7NP

Description

Stonebow House is situated at a key gateway to the city of York and was originally completed in 1965. The property was most recently acquired in 2015 and has been comprehensively refurbished and transformed into a mixed-use development comprising luxury flats sitting above commercial retail units.

Location

The subject property occupies a key gateway site in the city on The Stonebow. It is situated at the convergence of both Colliergate and The Shambles, famous for their independent shops and niche offering, and opposite Whip-Ma-Whop- Ma Gate. St Saviourgate runs to the rear of the property.

The property sits equidistant to Marks &Spencer on Parliament Street to the west,and the new Hungate development to the east.

Hungate is a new urban quarter that is being delivered by Lendlease and Evans Property Group. On completion, it will deliver c. 720 new apartments and houses with much improved public realm.

The Stonebow Bus interchange is situated to the front of the property generating high levels of footfall past the property.

Availability

For Sale

Costs

We are instructed to seek offers in excess of £5,960,000 (Five Million Nine Hundred and Sixty Thousand Pounds) subject to contract and exclusive of VAT. This reflects the following yield profile allowing for the usual purchasers costs: 6.75% NIY - Commercial Income 4.50% NIY - Residential Ground Rents £60,000 for 2 x Prime City Centre Car Parking Spaces Estimated Running Yield Profile: October 2028 - 7.90% October 2033 - 8.95% (Assuming CPI inflation at an average of 2.5% pa)

Size

49,905 sq ft (4,636.00 sq m)

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