Prime York building hits the market for £3m

Saviour House, a substantial 1990s office building in the heart of York, has been placed on the market with a guide price of £3million.

Situated on St Saviourgate, 100 yards from the historic Shambles, the 24,592 sq ft building comprises five floors with 25 parking spaces.
The sale is being handled by the Leeds office of global property consultancy Knight Frank

Graham Foxton, investment partner with Knight Frank, explained: “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 floor plates 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.

“So, we are expecting a good deal of interest in Saviour House, now that it has been officially launched on to the market. It is competitively priced, with the £3m price tag reflecting a capital value of £122 per sq ft,” he commented.

Saviour House benefits from immediate access to the city’s commercial, retail, cultural and leisure amenities. Its position also places the property within reach of the city’s universities, transport connections and internationally recognised visitor attractions, making it relevant to a range of occupational, residential, student and hospitality markets.
Mr 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.”

He added: “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 surrounded by several important listed buildings. Any conversion, change of use or redevelopment will therefore be subject to planning and all other necessary statutory consents.”

York is one of the UK’s most successful and resilient visitor destinations, attracting approximately 9.4 million visitors annually and generating over £2 billion of economic impact for the local economy.

Renowned for its internationally recognised heritage assets, including York Minster, the City Walls, The Shambles and the National Railway Museum, the city benefits from a year-round tourism market supported by leisure, cultural, educational and business visitors. Strong domestic and international demand continues to underpin the City Centre economy, with overseas visitors accounting for a significant proportion of visitor spend and overnight stays.