Roman House, which occupies a prominent position in Rougier Street, came on to the market after it became surplus to the insurance giant’s requirements.
The Skelwith Group, which is also developing the Flaxby Country Resort between the city and Harrogate, has been working with architects Brewster Bye to redesign the building and turn it into 47 luxury apartments.
The building’s interior will also be transformed and the property will also get new windows and a feature entrance after members of York Council backed the development plans.
Many apartments will benefit from stunning views of the city and the development will feature a 24-hour concierge service, the latest internal technology and high-end internal and external specification and finish.
The developers say there had been interest from around the country, proving the local property market was bouyant at the moment.
Paul Ellis, managing director of Skelwith said: “Since we announced our plans for Roman House, the interest we have received has been overwhelming. We have not only seen interest from buyers in York, but from across the country and it’s clear that confidence in the city’s property market is extremely strong at the moment.”
Work is expected to start towards the end of March and could take around eight months to complete.