York building to be redeveloped as hotel following acquisition

A prominent building in York is set to be redeveloped as a hotel in a £25m project following its acquisition.York property development company North Star has bought Swinson House from the Dominvs Group.Planning permission was granted in 2018 to redevelop the 35,000 sq ft building into a new hotel, with an operator set to be announced shortly. The total gross development value (GDV) of the project is in excess of £25m.Swinson House was formerly an office for HMRC but was vacated because it was outdated and no longer fit for purpose. The building sits within City of York Council’s Castle Gateway masterplan, with the area set to be rejuvenated with new public realm and high-quality development.The funding for the purchase was arranged by Ice Cubed Property Finance. The deal was completed for an undisclosed amount. The deal follows other high-profile acquisitions and projects in recent years by North Star, including numerous buildings in York, a large office building in Plymouth and a residential development site in Sheffield city centre.