Wed, 25 May 2011 | COMMERCIAL PROPERTY
A deal is still being sought to sell on and develop York’s long-empty Bonding Warehouse according to the owner, property developer, William Legard.
It is understood that at least one national hotel and leisure chain has expressed interest in buying the development opportunity. Mr Legard said, however, that any sale would be subject to planning permission, and that no application has yet to be submitted to the City of York Council.
The Grade II-listed building had previously been home to a bar and entertainment venue, but it was flooded when the River Ouse broke its banks in 2000, and has lain empty ever since.
Mr Legard purchased the old warehouse in 2007, for more than £1 million, and at the time expressed his intentions to have it refurbished and redeveloped within two years. He expressed pessimism just last year about the prospects of completing it and selling it on within five years, but shortly after he made those comments, interest in it picked up again.
The property will be sold with protective measures in place to defend it against catastrophic floods – even if the river reaches the same devastating levels that it did in 2000. The interior has essentially had a ‘concrete boat’ constructed around it, which will allow the basement to strategically flood while protecting the rest of the structure.
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