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York House is a mixed use development compromising four floors. The property was acquired a Joint Venture partnership after being sourced by Empire. Empire then arranged for the planning requirements under the permitted development rights & were then instructed to manage the build development.
A permitted development conversion from a B1 office to 29 self-contained residential flats.
The top 3 floors were previously an unused open space office block. This allowed a custom floor print to be designed, maximising design & build efficiency respectively. Given the aesthetics of York House, sympathetic windows were installed throughout & the original features of the building were maintained where possible. One original feature which was successfully modernised was an original lift. This was replaced with a custom lift by the Platform Lift Company Ltd.
In relation to costs there will be ongoing management charges to a lettings management agent at circa 10% of the income. The utilities and council will be covered by the tenants themselves as these flats are fully self-contained and will have their own services. Also a provision will have to be made for small void periods. In total we estimate it will cost 15% of the income, inclusive of the management costs, voids and utilities, to cover all outgoings.
Builders who are carrying out work to create the town centre landmark on Waterdale have now carried out their lighting tests – showing for the first time how the frontage will look.
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