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We are delighted to be instructed to market this mixed use investment opportunity that will no doubt appeal to a host of buyers. The property lies within Scarborough's Old Town and is situated a a stone's throw from Foreshore Road & Sandside (South Bay).
At ground floor level lies a prominent retail unit with an inviting frontage. We understand the tenant occupies this on a flexible arrangement and pays, in our opinion, a rent well below market value - circa £50 per week. The upper floors are accessed to the rear, via a metal external stair and lead up to 2 self contained apartments which are currently vacant. The flats do have partial SEA & HARBOUR views however do require cosmetic improvement in places. In our opinion, the rental income from this property should be around £20,000pa, but could be increased if the apartments we utilised as holiday lets. This is a fantastic opportunity to acquire the freehold interest in this prominent Old Town building. Please call our friendly sales team today to arrange your viewing - 01723 352235.
Scarborough is an established commercial, tourist and retail centre, approximately 40 miles east of York with a population of in the region of 81,000 people and a district population of around 110,000 persons (Sources: ONS and Focus). The town is adjacent to the North Yorkshire Moors National Park and is one of the principal resorts on the north east coast attracting an estimated 7 million visitors a year. More precisely, the property occupies a fantastic trading position on Eastborough, linking the town centre with the South Bay and is a well trodden route during the busy tourist seasons.
Commercial - 2017 Rateable Value £6,300 Residential - Both Flats Band 'A'
Mains electricity, gas and water supplies. Prospective purchasers are advised to make their own enquiries with regards to services connected.
Freehold. There is currently a tenant within the ground floor retail unit who we understand pays £50 per week. We have been informed that no formal lease is in place.
Ground Floor Retail Unit - TBC First Floor Flat - TBC Second Floor Flat - Band C
VAT, if applicable, will be charged at the prevailing rate.
Via the sole selling agents: CPH Property Services 19 St Thomas Street Scarborough YO11 1DY email@example.com 01723 352235