Market Leads & Opportunities
£22m funding for York residential conversion project
Property developer Newby has secured a £22m investment from OakNorth to acquire an office building in the centre f York earmarked for residential conversion.The finance from the bank has been used to acquire and develop Ryedale House, an eight-storey vacant office building adjacent to the River Foss and Clifford’s Tower.The current permitted development scheme comprises 21 one-bedroom, 49 two-bedroom and seven three-bedroom apartments.Situated on Piccadilly in the centre of York, within the historic York City walls, the area immediately surrounding the property is predominately commercial and residential with a mixture of houses, retail and office space.
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