£3.2 million bid for Oliver House site

A bid by McCarthy & Stone for a 30 apartment retirement home scheme is the clear tender winner  at £3.324m for the Oliver House site according to Council papers published this evening.

 Oliver House

Oliver House

The bid is much higher than the initial £400,000 valuation put on the site by Council officials who had obviously under-estimated the buoyancy of the recovering property market in York.

The next highest bid was a 29 bed retirement scheme from Churchill Retirement at £2.850m.

The lowest value bid came from Yorspace at £750,000. This bid had received a lot of publicity in The Press but is so far below the market value that the Council could not legally accept it (without Secretary of State authority).

Officials are recommending that negotiations with the highest bidder proceed.

Oliver House has been empty for 2 years. Slow progress on its sale has been heavily criticised by Council taxpayers

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8 thoughts on “£3.2 million bid for Oliver House site

  1. […] to The Press newspaper to say that the Council should accept a £750,000 offer for the Oliver House site. Earlier in the week it was revealed that the highest offer was £3.2 million from a company […]

  2. […] the under-estimate of the value of the Oliver House building, that alone will raise some questions about the […]

  3. […] Council Leader failed to take a decision today on which tender to accept for the sale of Oliver House, which has been empty for 2 […]

  4. […] reported last week that an unexpectedly high £3.2 million bid, which would see 30 specialist older persons apartments provided on the site, had been deferred by […]

  5. […] on the list is Oliver House which has been empty for over 2 years and for which offers of over £3 million have been […]

  6. […] a wholly unnecessary delay of over 3 months, it seems that the York Council will finally accept the highest bid received for the empty Oliver House building next […]

  7. […] is what the Council (belatedly) did when selling off the Oliver House elderly persons home for redevelopment. That site was subsequently sold to a company specialising […]

  8. […] sale price is less than the slightly larger Oliver House site fetched last […]

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