One of the most expensive York properties ever to be brought to market has just been put up for sale for £27.8 million.
The Coal Yard on Mansfield Street is seen as a significant investment opportunity.
It was built in two parts as student accommodation, and both blocks are included in the sale.
A second, seven storey block, with a cinema, shared lounge and laundry room, was given planning permission in 2020.
It took the size of the development to 189 bedrooms.
Property specialists Newman are marketing the apartments. In the details it says the net operating income for the 2024/25 academic year is more than £1.5 million.
The details say: “Purpose-built student accommodation comprising 189 beds, within nine minutes of York St John University and about 20 minutes bus of the University of York.
“Five-year nomination agreement with York St John.
“York is a significantly under-supplied market for purpose-built student accommodation with a short-term development pipeline of less than 10% of operational stock, leading to more than 57% of students without access to purpose-built student accommodation beds.
“Rents have grown by 21% since 2001.”
You can see the details here.