Cham­pion new-build is odds-on favourite in York

York’s most ex­pen­sive new-build home is at­tract­ing a queue of would-be buy­ers. Sharon Dale re­ports.

Yorkshire Post - Property - - PROPERTY NEWS -

WITH A price tag of £1.85m, the King’s Guinea is no bar­gain buy but the new-build is now the hottest prop­erty in York.

The spec­tac­u­lar 5,000 sq ft house on Tad­caster Road is named af­ter a fa­mous race­horse and is an odds-on favourite with wealthy pur­chasers who are queue­ing up to view it.

Louise Hirst, of Carter Jonas, which is mar­ket­ing the prop­erty, says: “Even be­fore a brick was laid, we had in­ter­est from wouldbe buy­ers. We know there are a lot of peo­ple out there wait­ing for the right prop­erty to come along be­fore they show their hand.”

York has long been a magnet for mil­lion­aires mov­ing from the coun­try to the city and, more re­cently, it has at­tracted topend buy­ers look­ing to re­lo­cate from Lon­don and the south east. Pe­riod prop­er­ties were al­ways top of their wish-list but the King’s Guinea has proved what es­tate agents have al­ready recog­nised as a trend.

“A few years ago very few high­end buy­ers wanted a new-build but that has changed. There has been a sig­nif­i­cant move to­wards new prop­er­ties. Peo­ple like the idea of a home that is en­ergy ef­fi­cient and low main­te­nance,” says Louise, who adds: “Very few large new houses are built in

York so the King’s Guinea of­fers a very rare op­por­tu­nity. It looks like some­thing you’d find in the Home Coun­ties, plus it has a gar­den, garag­ing and park­ing. With pe­riod prop­er­ties, buy­ers of­ten have to sac­ri­fice at least one of those three el­e­ments.”

De­vel­oper the Helm­s­ley Group could have put flats on the site, which over­looks the race­course, but chair­man John Reeves says: “It would’ve been more prof­itable but I felt that wasn’t right for the area. It’s un­usual for a de­vel­oper to build some­thing like this but we like to do some­thing dif­fer­ent.”

The prop­erty, which is in a walled gar­den, has six bed­rooms, gar­dens, an out­build­ing, garage and park­ing. Its lo­ca­tion is a ma­jor sell­ing point. Close to fash­ion­able Bish­opthorpe Road, it is a 25-minute walk into the cen­tre of the city. Prop­er­ties in York’s his­toric heart or within walk­ing dis­tance of it are the most sought-af­ter, es­pe­cially by those who com­mute by rail to Lon­don and Leeds.

“The train links are a big at­trac­tion. The jour­ney from York to King’s Cross takes less than two hours. There is a lot of of­fice devel­op­ment and new cre­ative in­dus­tries around the King’s Cross sta­tion area so I can see the in­ter­est in York grow­ing fur­ther,” says Louise Hirst.

“I showed a Saudi princess round a prop­erty re­cently and she looked at it be­cause York has rail links to Edinburgh and Lon­don. We are def­i­nitely on the map for those kind of buy­ers.”

Like many ar­eas of the coun­try, York is suf­fer­ing from a lack of prop­erty for sale and the sup­ply prob­lem has helped push up prices. Carter Jonas say that prop­erty val­ues in and around the city cen­tre rose about five per cent last year and ex­pect a sim­i­lar in­crease this year. James Ni­chol­son, of Lan­caster Samms es­tate agency adds: “We are also see­ing fewer in­vestors and more peo­ple buy­ing to live in York.”

Prices start at about £160,000 for a two-bed­room ter­raced house. For those strug­gling to af­ford the most fash­ion­able hotspots, James sug­gests The Groves area, which is close to the city cen­tre and the hos­pi­tal.

“It’s up and com­ing and it has some lovely pe­riod ter­races,” he says.

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