Caddick secure £35m Hudson Quarter contract

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Caddick secure £35m Hudson Quarter contract
Credit: Shutterstock.com/ Alex Kosev

Caddick Construction, part of Yorkshire’s Caddick Group, has secured the contract for the £35 million Hudson Quarter development in York.

The contract was awarded via a subsidiary of property investment company Palace Capital.

The company arranged a £26.5 million debt facility with Barclays Bank – through to its Leeds office – to part finance the scheme.

The remainder is funded from the company’s existing cash resources.

Demolition has already been completed and construction is expected to commence this month with completion scheduled for early 2021.

The development scheme will comprise of 127 apartments, 34,500 sq ft of offices, 5,000 sq ft of commercial space plus car parking.

Neil Sinclair, Chief Executive of Palace Capital, said: “We are delighted that we will be working with Caddick Construction over the next two years to construct this exciting development situated only one minute’s walk away from York Railway Station and within the historic walls of York City.”

Andrew Murray, Managing Director of Caddick Construction, added: “This is a prestigious development in the heart of York city centre so we feel very privileged to be part of this development.

“The Caddick team is looking forward to the next two years where we will see new life being breathed into Hudson Quarter.”