18 August 2017 – planning permission
The company has had planning application granted for a major development on a 2 acre site at Hudson House, Toft Green, York, subject to conditions. Hudson House, which is within the City Walls, and only one minute’s walk from York Railway Station, is a 1960s office building with a lettable floor area of 103,000 sq ft. A new planning application was submitted in March 2017 to demolish the existing property and erect four new buildings comprising a total net area of 132,893 sq ft. Under the plans, three of the buildings will have a total of 127 apartments and 5,000 sq ft of commercial/restaurant space, whilst the other will comprise 34,000 sq ft net of Grade A offices. This is promising, although not entirely unexpected news. The shares remain undervalued in our opinion. BUY.