Green Street News interviews York Central’s developers

Tom Gilman of McLaren Regeneration and Allan Cook of Arlington Real Estate shared their ambitions and plans for a brand new city quarter for York in a recent interview with Charlie Schouten of Green Street News.

Following a tour of the site, the strategic development partners of York Central spoke about the significance of the project and the range of funding options they are exploring for the megaproject next to York railway station, highlighting that the site offers opportunities across almost all sectors, including build-to-rent, a hotel, later living, affordable housing and offices, and is one of the largest of its type in the UK.

Tom alluded to the type of investors the project could attract, saying: “It’s institutional money we see as the key investors in this, whether it’s UK institutions, European, or worldwide investors.” While also suggesting that there is “huge potential” for either a sovereign wealth fund of several individual funders to invest in the site.

Allan added that “York is a world brand that could attract a global investor” highlighting that York is a “world-renowned city, a world-recognised city in the North of England, next to a railway station, coupled with UNESCO world heritage status – this could be a massive opportunity for wealth funds or a major UK intuitional investor.”

Hinting at timescales, Tom and Allan revealed that the first stage of the masterplan could get under way next year with a large government prelet, while there are ambitions to increase the number of homes from 2,500 to 3,000 as well as increase the level of affordable homes being delivered, to above 20%.

As a York local, Tom Gilman shared his thoughts about working on York Central: “First and foremost, I think, I’m from York – and doing a development of this scale where you can properly make an impact and really change the place fundamentally is what a developer strives for. To have that in your home city is just huge, and we’re just so privileged to have this opportunity.”

The full article is available to subscribers of Green Street News here.