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York's first £1m apartment sparks huge interest
4:42pm Monday 17th February 2014 in Business news
HUNDREDS of people have already shown interest in the first £1 million apartment in York, developers say.
Developer Grantside is creating four new apartments and office space at the riverside Bonding Warehouse, with private lifts and a private bridge for when the River Ouse floods.
Work on the building is expected to be completed in May and the four apartments - a mix of two and three bedrooms each - will take up the entire top floor of the 7,000 sq ft building.
Steve Davis, Grantside managing director, said: “The Bonding Warehouse is a landmark building, and its location, next to the Victorian Skeldergate Bridge and opposite Clifford’s Tower, is tough to beat even in such a historic city as York, so we expected a lot of interest.
“Even so, the number of enquiries we are already receiving is unprecedented, with more than 100 coming into the site offices from passers-by, locals and investors.
"It has been a surprise, and puts the market demand firmly back at pre-recession levels.”
The lower floors of the Victorian building have also been updated, with state of the art flood defence barriers to protect the site, and office space has already been sold to local businesses.
The Bonding Warehouse was built in 1875 and was most recently used as a bar and restaurant, but it closed after being severely damaged in the floods of 2000 and has never re-opened. It was seen as a possible venue for a digital media and arts centre in York, but was overlooked.