The sale, made via Henry Boot’s property investment and development arm HBD, covers The Chocolate Works in York. The sum in the transaction is not being disclosed — the site previously held a factory for Terry’s Chocolate Orange.

HBD and McCarthy Stone entered into a partnership in 2019 and have promoted the site through the planning process in tandem, achieving consent on appeal in March 2024.

HBD will now work with McCarthy Stone to finish preparing the site for development, in line with contractual obligations between the two parties.

These contractual obligations are anticipated to complete in Q4 2024, whereupon McCarthy Stone will solely lead on the development of the site.

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This sale marks the final phase of HBC’s 27-acre development on the site, which has delivered 163 premium apartments, with a total GDV of £110m over the past decade.

“Securing planning permission and agreeing the sale to McCarthy Stone of the last remaining land site at The Chocolate Works will bring much needed retirement living in York, helping address the huge demand for specialist retirement accommodation that exists right across the country,” said Tim Roberts, CEO of Henry Boot.

“By adding retirement accommodation, which will also offer tailored levels of care, alongside the residential and other uses we have developed at the site, helps achieve our goal of creating a deep and multi-generational community a this transformed former factory.”