The new development, by York development company S Harrison, will consist of a mix of one, three, five and six bedroom en-suite apartments and townhouses.
The scheme will also offer a range of leisure facilities including a games room, gym, cinema, common room, study space and courtyard area.
The existing building is currently home to electrical appliance retailer Herbert Todd & Son, which was founded in 1936 and is planning to expand into Monks Cross, after an application was approved to build a new purpose built unit.
The new building will also be developed by S Harrison and will offer a modern showroom, warehouse, workshop area and office space, with a drive-through coffee shop being built alongside it.
Chris Hale from S Harrison, says: “Securing planning permission at Monks Cross is a major milestone in our plans for Percy’s Lane.
“Our proposed development will significantly improve the streetscape on both Percy’s Lane and Navigation Road, with a residential scheme that is much more in-keeping with its surroundings.
“The development would provide accommodation for 105 students which will also help to free up homes in York for local families.
“In recent decades there has been a lot of development in this part of York and Herbert Todd & Son’s existing building is now hidden away from passing trade, so it’s no longer fit for purpose.
“If our plans for Percy’s Lane are successful, the company’s expansion to Monks Cross will provide it with a state of the art, modern retail unit and give Herbert Todd & Son the presence it needs to successfully continue building on its impressive history.”
Depending on the outcome of the second planning application, Herbert Todd & Son could relocate to its new premises early next year, with work potentially starting on Percy’s Lane during summer 2017.
The new development, which would be owned and managed by one of the UK’s leading student accommodation specialists, would be completed in time for the start of the 201819 academic year.
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