R E D E N E S S S T R E E T, Y O R K
INVESTMENT
OVERVIEW
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LAYERTHORPE REGENERATION
OVERVIEW WHY INVESTING IN YORK MAKES SENSE
“York is one of the most popular cities in the north of England. It’s history, architecture, Education and accessibility make it a place where people aspire to live or invest into. There is huge regeneration happening in certain parts of the city which is helping the expansion of the vibrant centre.”
Alongside being frequently ranked as one of the best places to live in the UK, York is also the second largest tourist destination surpassing the likes of London, Manchester and Birmingham attracting over 7 million visitors a year from the UK and overseas.
62 UNITS | EXPECTED 2022
ICONA II, MODERNISTIQ Plans for the second phase of the Icona development include a dedicated concierge service and on-site gym. Situated directly opposite the current site, residents’ will benefit from different amenities within each site.
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| T O B Y C O C K R O F T, C R O F T R E S I D E N T I A L
Take a closer look at the Layerthorpe area and you will identify multiple sites that have been earmarked for large residential and commercial schemes by different developers.
Vast regeneration projects are already well underway and are set to entirely transform this region of York city centre. Previously a semiindustrial area, Layerthorpe is rapidly on its’ way to becoming a vibrant, highly sought after area for buyers, tenants and businesses alike, with prices expected to rise significantly once development is complete and has matured.
215 UNITS | EXPECTED 2021/2022
98 UNITS | DUE 2020
THE GA S WORKS, NORTH STAR
IQ, M APLE GROVE DEVELOPMENTS
The Gas Works is just one of the key developments situated over the road from Icona. Comprising studios, one, two and three bedroom apartments and duplex apartments, The Gasworks will offer York a new standard of luxury living, situated within nine acres of carefully landscaped grounds.
Neighbouring the Icona site is the upmarket student development, IQ. The development will meet the needs of overseas students seeking higher quality accommodation and with a predicted value of over £9m once completed, this will further contribute to the ongoing regeneration of York’s Layerthorpe area.
112 UNITS | EXPECTED 2021/2022
450 UNITS | EXPECTED 2021/2022
650 UNITS | EXPECTED 2021/2022
S T U D E N T D E V E LO PM E N T, U R B A N I T E
HEWORTH GREEN, MODA LIVING
F O S S I S L A N D , M U LT I P L E D E V E L O P E R S
Plans for a new student development have been submitted which would form the second phase of the already well established Coal Yard. The scheme will be
Heworth Green will form part of the transformation of the derelict 9-acre gasworks site into a dynamic new neighbourhood. A residential community that will re-
Plans for a significant residential development comprising of nine development blocks and a wealth of public and private amenity space are expected to be
carefully crafted to create a high quality contemporary building which harmonises with the surrounding developments.
connect existing surroundings with new pedestrian and cycle links, shops, cafés and community spaces.
given the go ahead shortly. Made up of one, two and three bedroom apartments and town houses, Foss Island will occupy over six acres of land.
£77M CITY CENTRE REGENERATION UNDERWAY
Icona is located in a highly connected part of York Centre, within 10 minutes reach of the city’s major employment zones and under 10 minutes walk of the city’s popular bar and leisure offerings.
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ICONA II
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HEWORTH GREEN
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IQ
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FOSS ISLAND
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THE GASWORKS
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S T U D E N T D E V E LO PM E N T
The York Central Partnership has welcomed the government’s
The infrastructure will unlock brownfield land with significant
confirmation of the £77.1m funding from Homes England and
access problems and allow the development of up to 3,705
Network Rail to help to unlock the homes, better paid jobs and
homes; up to 1.2 million square feet of commercial development
community spaces on a 45-hectare brownfield site in York city
including 80% Grade A offices and an enhancement of the setting
centre.
and access to the National Railway Museum.
The funding is a major piece in a £155m funding package put
“The funding is a vital step to unlocking a £1.16bn boost to our economy, and delivering a new generation of jobs and hundreds of affordable homes, when York needs it most.
together by the council working with fellow York Central Partnership members Homes England, Network Rail and National
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45-hectare brownfield site. John Lewis
The government funding, subject to planning approval, will enable vital infrastructure to connect the site, including a bridge over the
| COUNCILLOR KEITH ASPDEN, C I T Y O F YO R K C O U N C I L
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AMENITY & DEVELOPMENT IN EVERY DIRECTION
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York Barbican
Plans to move Parliment to York whilst Westminster undergoes restoration have been welcomed by the City of York and its MP’s. The work which is expected to take six years to complete would bring major benefits, not only to York, but to the wider region, including higher paid and skilled jobs.
3705
£77m
NEW HOMES CREATED
FUNDING IN FIRST PHASE
45 1.2m sqft HEC TARE SITE
COMMERCIAL D E V E LO PM E N T
CONNECTIVITY
BY TRAIN
A T R U LY C E N T R A L C I T Y, O N T H E Edinburgh
DOORSTEP TO THE REST OF THE UK
THE UK’S SECOND CITY
LEEDS
23 MINS
MANCHESTER
75 MINS
LONDON
110 MINS
BIRMINGHAM
23 MINS
LIVERPOOL
110 MINS
EDINBURGH
150 MINS
Newcastle
Situated in the heart of the UK, York is a key hub on the UK’s rail network with almost every major city within two hours reach. It’s neighbouring city Leeds, the largest financial district outside of London is 20 minutes away, whilst London itself can be reached in under two hours.
BRITAIN’S FA STEST BROADBAND York proudly boasts the fastest internet in Britain with ambitions to become the first ‘gigabit city’. A revolutionary
Leeds Liverpool
YORK
Manchester
Birmingham
technology which delivers one gigabit speeds at 1,000Mb (100 times faster than standard broadband) is currently being rolled
London
out, and with improved connectivity comes the creation of new jobs, greater investment along with becoming an even
Bristol
more desirable destination to live and undertake business.
BUSINESS AND EMPLOYMENT KEY EMPLOYMENT SEC TORS
MAJOR EMPLOYERS York is famous for its history and tourism, but is also
8%
L AND, TR ANSPORT & POSTAGE
11%
EDUC ATION
12%
FINANCIAL & PROFESSIONAL SERVICES
13%
the base of various companies which serve both United Kingdom, Europe and around the world.
TOURISM
It is in the top 10 for the number of firms with 1-250
H E A LT H & S O C I A L C A R E
16%
RETAIL & WHOLES ALE
C I T Y O F YO R K C O U N C I L
2.
NORWICH UNION LIFE
3.
S E L B Y A N D YO R K P R I M A RY C A R E T R U S T
4.
SHEPHERD BUILDING GROUP
5.
BRITISH TELECOM
6.
C P P G R O U P LT D ( C A R D P R O T E C T I O N P L A N )
7.
NESTLÉ ROWNTREE
8.
U N I V E R S I T Y O F YO R K
9.
NETWORK RAIL LONDON NORTH EASTERN
10.
NORTHERN RAIL
11.
J A R V I S F A C I L I T I E S LT D .
12.
A S D A S T O R E S LT D
13.
C E N T R A L S C I E N C E L A B O R AT O R Y
14.
MONKHILL CONFECTIONARY
15.
MARKS AND SPENCER PLC
16.
D E PA R T M E N T O F E N V I R O N M E N T, F O O D
employees and in the top 15 for the number of firms
A N D R U R A L A F FA I R S
employing over 250 people. York’s major employers
1 7.
M C K E C H N I E P L A S T I C C O M P O N E N T S LT D .
includes corporate headquarters, financial service
18.
MOD HEADQUARTERS EASTERN DISTRICT
19.
NORTHERN ELECTRIC
20.
POLICE HEADQUARTERS
21.
R O YA L M A I L
22.
T E S C O S T O R E S LT D
Listed to the right are the largest 25 employers in
23.
YO R K A N D C O U N T Y P R E S S
the city, broadly ranked in terms of the number of
24.
YO R K C O L L E G E
25.
Y O R K S T. J O H N U N I V E R S I T Y
firms, healthcare institutions, major manufacturers and distribution companies. This diversity of
15%
1.
industry sectors provides a stable foundation for consistent economic growth.
people they employ.
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AN ACADEMIC POWERHOUSE
A BUY-TO-LET HOTSPOT
From world-class universities, to both top-ranking private and state schools, York is renowned as a hub of academic excellence. An impressive fourteen schools within and around York were listed amongst the Schools Guide 2020, the most credible and authoritative guide which ranks performance and helps for parents identify the highest quality education for their children.
York boasts two prestigious universities alongside two prominent language schools with over 25,000 students collectively.
‘The whole fabric of York is suitable for buyto-let investors, the city is an affordable and attractive location. Its main services include finance, tourism, health and education, it’s full of history and culture which makes it a huge tourist hotspot and it’s ideally located right between London and Edinburgh which results in excellent transport links across the rest of the country.’ | AMBER WREN, LINLEY & SIMPSON
WHAT DOES THIS MEAN FOR INVESTORS? Overseas students often with larger budgets seeking quality property in the centre of York.
The University of York is one of the UK’s prestigious Russell Group universities, with a global reputation for inspirational, life-changing research and exceptional academic teaching standards.
Icona resides inbetween Tang Hall and Hull Road which are home to the most desirable streets for York students.
York St. John University has also enjoyed recent success, achieving one of the biggest overall rises in the UK in the Good University Guide which is considered the most respected university rankings table.
Parents often buy apartments for students/ themselves to enable them to visit their
HOLIDAY LETS
BUY TO LET
8-9% YIELD ON HOLIDAY LETS As one of the UK’s leading tourist destinations, there is a continual and rising demand for high-quality, short-term accommodation. With the average stay approximately 3 nights and attracting visitors all year round, holiday let properties in York provide the perfect solution for those seeking a flexible and costeffective way to enjoy and explore the city generating yields of 8-9% on average.
4-5% YIELD ON BUY TO LET Combined with increasing property prices which are higher than national average and yields of 4%-5% on a regular Buy to Let investment, property in York strikes the perfect balance in being able to achieve steady rental returns whilst also benefiting from healthy, long-term capital appreciation.
children and stay.
H I G H R E N TA L D E M A N D
GOOD AFFORDABILITY
10 YEAR GROWTH
ALL THE SCHOOLS IN OR NEAR YORK THAT M AKE THE LIST (OUT OF 2000) 28.
NABURN C OF E PRIMARY SCHOOL
With so much to offer, there is always
Regarded as a highly desirable place
Property prices are 39.27% higher than
2 13. FULFORD SCHOOL
a strong demand for properties in
to live, the cost of property in York
they were 10 years ago, much higher
York at all levels with the very low
is still relatively low. Rightmove
than other areas in Yorkshire. This
likelihood of lengthy void periods.
suggests, that the average price of a
means a much higher return for later on
flat in York in the last 12 months is
in life whilst still maximising the income
just under £200,000.
stream on the property.
FA S T R E N TA L G R O W T H
A L ACK OF HOTEL ROOM S
R E C O R D O C C U PA N C Y R A T E S
The higher than average population
With only 1085 hotel rooms across
Rising 15 places, York now lies within the
growth in York directly ties in with
the city centre to support its 7 million
top 5 cities of the Knight Frank UK Hotel
the increasing rent levels across York,
annual visitors, the demand for high
Development Index with occupancy
increasing faster than most UK cities
quality, short-stay accomodation
rates of 80%, sitting closely behind
with an 8% increase on flats and
continues to far outweigh supply.
Edinburgh, London and Brighton.
3 7.
CUNDALL MANOR SCHOOL
228
52.
Q U E E N E T H E L B U R G A’ S C O L L E G E
2 4 2 . A R C H B I S H O P H O L G AT E ’ S S C H O O L
89.
ST PETER’S SCHOOL
BOOTHAM SCHOOL
2 75. THE MOUNT SCHOOL
1 4 8 . T H E F A C U LT Y O F Q U E E N E T H E L B U R G A’ S
2 8 6 . POCKLINGTON SCHOOL
160. QUEEN MARGARET’S SCHOOL
3 2 3 . HUNTINGTON SCHOOL
203. AMPLEFORTH COLLEGE
3 2 5 . ALL SAINTS RC SCHOOL
apartments in the last year.
KEY FACTS I C O N A D E V E L O PM E N T | NOVEMBER 2020 COMPLETION • • • • • • •
32 apartments (including 3 penthouse suites with private terraces) Communal roof terrace 16 car parking spaces available High specification finishes include quartz worktops, Italian kitchens and full bathroom tiling Views of the iconic York Minster can be seen from the the development Furniture packs available Second phase (Icona II) will include a dedicated concierge and gym which all resident’s will have access to
Please note: Whilst the details in the brochure are believed to be accurate, they are set out as a general outline for guidance and do not constitute any part of an offer or contract. Intending purchasers should not rely on the brochure details as statements of representation of fact. Buyers must take steps to satisfy themselves by inspection or otherwise as to the accuracy of the detail. Disclaimer: The planned Concierge Service and Resident's Gym is subject to the company completing on the nearby purchase of land which will form Phase 2 of the Icona development. Resident's from both apartment blocks will be granted unlimited lifetime access to the aforementioned services and benefits. February 2020.