A FORMER bank is set to become five apartments and an office - helping address what estate agents have called a “chronic shortage of affordable properties”.
Plans have been submitted for the building previously used by HSBC on York Road in Acomb to be converted into five one-bedroom flats with an office space at the front of the ground floor.
Estate agents commenting on the proposals in planning documents say there is a huge demand for affordable homes.
A letter from Ashtons estate agency said: “The only other development of apartments of this size in York practically sold out overnight earlier this year due to the huge demand from the first-time buyer market.”
And Stephensons estate agency said there were only seven one-bedroom flats on the market at the time of writing. In a letter they said: “There is a chronic shortage of affordable properties to buy or rent for first-time buyers and first-time renters. No doubt [the] proposed scheme will fill a void.”
The building, on the corner of York Road and Severus Street, would be extended and a 31sqm office space created on the ground floor, with flats on the ground, first and second floors of the building.
The bank closed in 2016 after HSBC said its usage levels were “well below the national average”.
The planning application says the building, which was home to the bank on the ground floor and had a three-bedroom apartment split over the first and second floor, is currently unoccupied. It adds: “This is a minor change of use and therefore poses no threat or disturbance to the neighbours or local community.
“The apartments are accessed via two new main entrances off Severus Street.”
A statement from the applicant says York’s Local Plan aims to encourage property development for first time buyers and adds: “One bedroom apartments are highly sought after within Acomb.”