Hudson House, which is within the City Walls, and only one minute's walk from York Railway Station, is a 1960s office building with a lettable floor area of 103,000 sq ft.
Following extensive consultations, the Company submitted a new planning application in March of this year to demolish the existing property and erect four new buildings comprising a total net area of 132,893 sq ft. Under the plans, three of the buildings will have a total of 127 apartments and 5,000 sq ft of commercial/restaurant space, whilst the other will comprise 34,000 sq ft net of Grade A offices.
Neil Sinclair, the Chief Executive of Palace Capital, commented: “Hudson House was part of the Sequel Portfolio which we acquired from Quintain in 2013 and where we already have two other planning approvals. We are very excited about the prospects for this site and now we have consent we will be focusing on how best to maximise shareholder value whilst limiting the risk to our Company.”