Beaufort completes development facility for residential project in York

Beaufort is very pleased to announce the completion of a development facility for a residential and office project in York, being undertaken by prominent local developer, Newby.

The scheme, Ryedale House, involves the conversion of a former office building into 77 high-quality residential apartments and over 2,000 square feet of retail space.

The property is located in the centre of the York, moments from the city’s main attractions and will feature a concierge service as well as a convenience store, gym and F&B offerings in the retail space. The development is expected to complete by Spring 2021 and has a forecast GDV in excess of £40m.

Established in 2008, Newby specialises in developing mixed-use and residential schemes with an identified project pipeline in excess of £100m worth of GDV.

Mark Quigley, Managing Director at Beaufort Capital, said, “We are delighted to be supporting Newby in this high profile transaction for luxury residential apartments in the heart of York, within the city’s ancient walls.

“The Newby team is very experienced and has delivered numerous top quality schemes throughout Yorkshire.”

Frazer Roberts, Director at Newby, said, “We were very impressed with the speed and efficiency at which Beaufort Capital were able to complete on the financing towards the scheme.

“Newby are excited to form this relationship with Beaufort and look forward to working together moving forwards.”