Henry Boot announces that its property investment and development arm, HBD, has agree on a conditional sale of a c. 8,094m2 development site at The Chocolate Works in York to McCarthy Stone.
HBD and McCarthy Stone entered a partnership in 2019 and have subsequently promoted the site through the planning process together, achieving consent on appeal in March 2024 for a 72-home Retirement Living PLUS scheme. HBD will now work with McCarthy Stone to finish preparing the site for development, in line with its remaining contractual obligations, which is anticipated to be completed in Q4 2024. McCarthy Stone will solely lead the development of the purpose-built retirement accommodation.
Tim Roberts, CEO of Henry Boot, commented: “Securing planning permission and agreeing the sale to McCarthy Stone of the last remaining land site at The Chocolate Works will bring much-needed retirement living in York, helping address the huge demand for specialist retirement accommodation that exists right across the country. By adding retirement accommodation, which will also offer tailored levels of care, alongside the residential and other uses we have developed at the site, helps achieve our goal of creating a deep and multi-generational community at this transformed former factory. In addition, it brings HBD’s award-winning work on this significant project to a close while representing a strong outcome for our shareholders.”
Image provided by FTI Consulting.
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