Sale of Grove House for £1.6 million

Grove House, Penleys Grove Street

Grove House, Penleys Grove Street

The former Grove House elderly persons home is being sold for £1.6 million.

The property was the subject of an unsuccessful attempt to list it as an asset of community value earlier in the year.

The sale price is less than the slightly larger Oliver House site fetched last year.

The site is both financially valuable and strategically important, lying just outside the city walls in a largely residential area.

A total of eleven bids were received for the site from nine bidders, seven of which are conditional upon planning permission being obtained.

There were a range of bids for different schemes with vastly different values ranging from £600k to some £1.6m.

The Executive will be asked to approve the Norstar Real Estates proposal as the preferred bid and if approved, the council will enter into detailed commercial discussions.  Norstar Real Estates placed the highest bid of £1.6m and are proposing to convert the existing building into 29 one bedroom flats for sale or rent, including on site affordable homes.

The report comes after Executive agreed in October 2015 that the site should be put up for sale to generate a capital receipt to support the Older Persons Accommodation Programme. The Programme seeks to address the needs of York’s ageing population, making the best use of York’s existing Extra Care Housing by making it more accessible for people with higher care needs, and replacing the council’s out-dated Older People’s Homes with a wide range of more modern accommodation which meets modern care standards.

Executive takes place on Thursday 29 September from 5.30pm and is open to members of the public or is available to watch live online from:www.york.gov.uk/webcasts

To find out more about the report, or to attend, visit: http://democracy.york.gov.uk/ieListDocuments.aspx?CId=733&MId=9305

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