Book a viewing today at the stunning Cocoa Works apartment community in the old Rowntree factory, York

Many of the apartments in the former Rowntree Factory, have a view looking out over York Minster. Picture – supplied.

Unwrap the future of one of Yorkshire’s iconic buildings which has been given a sweet new lease of live – viewings now available

Step inside the bright, spacious, show apartment of Latimer’s new development, The Cocoa Works, for a taste of luxury living in the heart of this gorgeous city.

Designed by Tegerdine Associates, the apartment is available to view by appointment now, and like many others in this former Rowntree Factory, it is a room with a spectacular view looking out onto York’s famous Minster.

Affordable living

The bright, spacious show apartment at Latimer’s new development, The Cocoa Works, designed by Tegerdine Associates, is available to view by appointment now. Picture – supplied.

As well as breathing new life into one of York’s most famous institutions, the Cocoa Works will also be notable for the high proportion of affordable homes it will bring to the city, continuing Joseph Rowntree’s legacy of social values.

Statistics show that between 2019 and 2021, only 61 homes in York were available through low-cost home ownership, while 84 apartments (30% of the development’s total) will be made available this year alone through Shared Ownership.

Prospective buyers will therefore have a route to owning a part of York history for a deposit of as little as £3,550 for a one-bedroom apartment based on a 35% share.

Shared Ownership allows buyers to purchase a share of the property between 35% and 75%, and pay rent on the rest, making it an affordable option for first-time buyers, who can gradually increase their owned share up to 100% over time.

The iconic Rowntree factory exterior is maintained and visible in the artists’ impression of the outdoor space at the development. Picture – supplied.

Advantages of this form of ownership include affordable deposits, which are usually 5-10% of the purchased share, a mortgage only being needed to cover the price of your share, and the ability to defer stamp duty, normally until the owned share reaches 80%.

Honouring the legacy

Richard Cook, group development director at Latimer, said: “As we usher in a new era at one of York’s most famous locations, we are committed to honouring the Rowntrees’ legacy, with our ethos at Latimer centred around delivering more for our communities.

“This is why we are ensuring that a significant number of these fantastic apartments are available to people through affordable means, hugely boosting the Shared Ownership provision in York as a whole.”

The marketing suite at The Cocoa Works is located on Haxby Road, York, with apartments available to view by appointment only.

Those interested in learning more about The Cocoa Works, and the affordable routes to owning an apartment there, can visit thecocoa-works.com for more information, or call 01904 390301.