A THREE-storey office building in York is set to be converted into flats after being bought by property development business, York Two Limited.

The business has acquired the former Savills estate agents building at 46-48 Bootham from the Helmsley Group.

The property, built in the 1950s after the site was damaged during the Second World War, is located next to the Bar Walls alongside Marygate.

Following the deal, the property will be developed into 14 residential apartments.

Dean Russell, director of York Two, said: “This property is a great investment opportunity in a prime location in York. We are looking forward to how the project will look when it’s finished."

Last year, City of York Council approved plans to convert the building into residential units.

Clare Davitt, a real estate senior associate in the Leeds office of Irwin Mitchell, advised York Two on the deal.

Commenting on the deal, Clare said: “This is a well-known building in York and I’m delighted to support York Two on this transaction.

“The property has a superb location in York and I look forward to seeing the completed development which will no doubt add high quality residential stock to the city.”

The project manager for the redevelopment is Matthew Gration at Aspect 4 Limited and the architect is Lee Vincent at DC Architecture.