A York office block has gone on sale for £3 million – and represents a “fabulous opportunity” for redevelopment, agents say.
Saviour House is a large 1990s building on St Saviourgate. It has five floors and 25 parking spaces.
It could be retained as offices or redeveloped as a hotel, student accommodation or another use, says Graham Foxton, who’s marketing the property.
Mr Foxton, investment partner with Knight Frank, said: “This is a fabulous opportunity to breathe new life into a prime building in the centre of the historic city of York.
“Saviour House has been predominantly stripped out by the current owner and is now ready for redevelopment, refurbishment or conversion.
“The building was previously a multi-let office, but the owners have achieved full vacant possession to enable a buyer full flexibility for conversion or to put their own stamp on an office scheme.
“It’s in a prime location within the city walls and, as the tourism industry in York is going from strength to strength, the opportunity is an exciting one for a new owner to thrive in the city.”
Found in the city centre close to Shambles, the building could be redeveloped for the tourism market.
“While presently configured as office accommodation, the property’s scale, arrangement and location provide an opportunity to consider a much broader range of future uses,” Mr Foxton said.
“Saviour House may appeal to commercial investors and owner-occupiers seeking a prominent city centre building, as well as developers and specialist operators looking to reposition the property for residential, purpose-built student accommodation, hotel, aparthotel, serviced accommodation, co-living or other commercial and specialist living uses.”
He expected a lot of interest in the building which “is competitively priced, with the £3m price tag reflecting a capital value of £122 per sq ft”.