Located in a central position on Ousegate, this five-floor office block presents a unique mixed-use opportunity. The property currently features a modern office space on the ground floor and basement, which is tenanted until September 2027 with an annual rental income of £67,000. The remaining four upper floors are vacant and in need of modernisation, but planning permission has been granted for conversion into eight large two-bedroom apartments.
The building is equipped with a rear lift providing access to all floors, and ladder access to the roof, which may have additional development potential pending further planning approval. Situated at the prominent Ousegate Bridge, the property benefits from high foot traffic, ideal for its commercial use, while the upper floors offer excellent views of the River Ouse. The surrounding area is rich in amenities, making it an attractive location for both commercial and residential purposes.
This property represents a solid investment opportunity with its existing commercial lease providing steady income, and the potential for significant value addition through residential conversion and possible further development.
The planning permission for residential apartments is available at :-
https://planningaccess.york.gov.uk/online-applications/applicationDetails.do?keyVal=RM3PCXSJ0FL00&activeTab=summary
Current rateable value (1 April 2023 to present)
£40,750
