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Hotel development opportunity in prime York location

05 September 2012 by
Hotel development opportunity in prime York location

An operator or investor is being sought to play a key role in the development of an 88-bedroom hotel and restaurant within a Grade II-listed crescent in York.

Planning permission has been secured by Rushbond, a property company specialising in the conversion of historic buildings, for hotel use at St Leonard's Place, a property in a prime location within the city walls, overlooking York Minster.

Built in 1844-5, the 53,000sq ft Regency-style property has been used as office accommodation by the City of York Council for the past 70 years.

The proposed scheme includes plans for a 6,000sqft restaurant to be either operated as part of the hotel or by an independent operator, as well as major function suites.

Jonathan Maud, managing director of Rushbond, said: "This property presents a once-in-a-lifetime opportunity for a hotel operator to secure a truly stunning building in what is arguably York's best location. The gracious Georgian crescent lends itself perfectly to refurbishment as a hospitality venue. Our expertise in sympathetically restoring historic properties, combined with a visionary hotel operator, will breathe life back into this building which for so long has been mostly closed off to the public and now we want to help fulfil its true potential and become a gem in York's tourism crown."

According to STR Global Hotel Performance Report 2011, York - which attracts more than 7.1 million visitors a year, spending more than £443m in the city - enjoys an average hotel occupancy of around 80%, second only to London. The City of York Council recently announced that £3m from York's Economic Infrastructure Fund would be invested in its "Reinvigorate York" initiative to maintain its reputation as a major visitor and retail destination.

The City of York Council will vacate the property by spring 2013, relocating to its nearby £32m headquarters.

Hotel operators or investors interested in finding out more about the scheme should contact selling agent Jon Patrick from Christie & Co at jon.patrick@christie.com or on 0113 389 2709.

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By Janet Harmer

E-mail your comments to Janet Harmer here.

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