Ryedale House set to become luxury flats after sale completed
A LANDMARK city centre building has been bought by a developer which now plans to convert it into 77 luxury flats.Ryedale House, which has been standing empty for years since it was vacated by the North Yorkshire Health Authority, has been acquired by residential developer Newby.
The seven-storey building already has permitted development for residential conversion and sits within the Castle Gateway regeneration area.
Newby co-founder Nick Moody said: “We are delighted to purchase Ryedale House which is a landmark building that needs to be revitalised and is ideal for residential conversion.”
Matthew Jones, development director at Savills Leeds, said: “We acted for Steamrock Capital on the disposal of Ryedale House and following a competitive marketing process, Newby was selected as the purchasers and concluded the transaction within a short timescale, which is a positive result all round.
“The conversion and re-development of Ryedale House to high-quality apartments is fantastic news for York and will play a big part in the evolution of the Castlegate/Piccadilly area.”
Dan Neary, director of Steamrock Capital, added: “We are pleased that Newby will take on the mantle of this building and bring the plans to fruition. We still have significant property interests in this area and are looking forward to seeing the improvement and regeneration of this part of York.”
Newby was set up in 2008 by the former directors of award-winning city living pioneer City Lofts. The group is known for transforming redundant heritage buildings into prime residential space.
Newby purchased Cocoa Works, the former Nestlé factory on Haxby Road, earlier this year for residential conversion. In 2016 Newby also successfully converted Castle Chambers, a redundant office in the centre of York, into contemporary apartments.
Newby hopes to start work on Ryedale House early next year.
This week councillors approved plans for a £25 million hotel and the apartment next door at Piccadilly Car Park.