Saviour House hits the market
Close to The Shambles in central York, the 25,000 sq ft office building is up for grabs at a guide price of £3m.
The 1990s building is situated on St Saviourgate, and comprises five floors with 25 parking spaces. The sale is being handled by Knight Frank’s Leeds office.
The asset, put up for sale by a private venture, is available with vacant possession.
Graham 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 so rare to get a modern freehold building of this nature in York and the floorplates will lend themselves to a variety of uses. 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.”
Foxton said that a deal at the guide price of £3m price would reflect a capital value of £122 per sq ft.
The building’s original owner was NFU Mutual, which had occupied space in the previous building on the site before moving in the 1990s. According to reports, it was then sold to Highcross in 2011 for £2.85m before being moved on again.
With the workspace market greatly changed since Covid, offices might not be the only option, as Knight Frank’s Foxton explained:
“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.
“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.
“Prospective purchasers are encouraged to assess the property according to their own requirements, sector expertise and appraisal assumptions.”
The property is not listed, although it lies within the York Central core conservation area and is neighbour to a number of listed buildings. Any conversion, change of use or redevelopment would need to go through the planning process.
