Property investment firm Palace Capital has secured planning permission from City of York Council for a major development in York, UK.
The planning was granted for the development on the company’s two-acre site at Hudson House, an office building located in Toft Green.
Now, the company plans to demolish the existing building and construct four new ones with a total net area of 132,893 sq ft.
In total, the company will construct 127 apartments and 5,000 sq ft of space for retail stores and restaurants in three of the buildings. The fourth building will offer 34,000 sq ft net of Grade A offices.
Palace Capital CEO Neil Sinclair said: "Hudson House was part of the Sequel Portfolio which we acquired from Quintain in 2013 and where we already have two other planning approvals.
“We are very excited about the prospects for this site and now we have consent we will be focusing on how best to maximise shareholder value whilst limiting the risk to our company."