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Mixed Use for sale

Somerset Terrace, Scarborough

Under Offer £160,000

Property Description

Key features

  • CENTRAL MIXED USE INVESTMENT BLOCK
  • 2 x LONG ESTABLISHED COMMERCIAL TENANTS
  • 2 X 1 BED FLATS LET ON ASTS.
  • GROSS INCOME - £20,700PA. 11.1% RETURN

Full description


A fantastic opportunity to aquire this town centre, mixed use investment block. The ground floor is split into two and is let to two very well established commercial tenants whilst the two upper floors are let to out on ASTs which are managed by Central Property Lettings.  According to figures we have been supplied with, the property brings in a gross income of £20,700pa.  The property comes to the market competitively priced and we expect it to sell quickly.
All enquiries to CPH COMMERCIAL.


VAT: 
All figures quoted are exclusive of VAT however, our client reserves the right to charge VAT if applicable.

VIEWING: 
By appointment only via the Sole Agents: CPH Property Services 19 St. Thomas Street Scarborough YO11 1DY Contact: Joe Walker MRICS Tel: 01723 352235 Email: joe@cphproperty.co.uk

PROPERTY REFERENCE: 
ESC 10052/JW/AM/080216

LOCATION: 
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. Somerset Terrace is a key vehicular route into the town and is a mixed use locality.

DESCRIPTION: 
The property comprises a double fronted, brick constructed mid terrace property currently laid out as two shops at ground floor and basement levels whilst two 1 bedroom flats are arranged over the first and second floors. Shop at 3 Somerset Terrace - Coywood Computers Sales area, office, kitchenette, storage and WC facility. Net Internal Area: 45.11 sq m (486 sq ft) Shop at 3a Somerset Terrace - Scarborough Pawnbrokers Sales area and storage. Further storage at basement level. No WC. Net Internal Area: 46.32 sq m (499 sq ft) Flat 1 at 3a Somerset Terrace Hall Lounge 5.41 x 3.75 Bedroom 4.25 x 3.96 Kitchen 3.34 x 2.82 Bathroom Flat 2 at 3a Somerset Terrace Hall Lounge 3.74 x 4.48 Kitchen 3.35 x 3.25 Bedroom 3.45 x 5.46 Bathroom

TENURE: 
Believed to be Freehold. Both of the ground floor shop units are holding over on internal repairing leases whilst the two flats are let out on AST agreements which are managed by Central Property Lettings. Gross Income - £20,700pa. Further details available on request.

ENERGY PERFORMANCE CERTIFICATES (EPC): 
The following energy assessments have been made: Flat 1 - Band 'D' Flat 2 - Band 'D' Shop 1 - Band 'E' Shop 2 - Band 'F' Copies of the EPC's and Recommendation Reports can be viewed at our offices.

TAXATION: 
Shop at No 3 - RV £4,400 Shop at No 3a - RV £2,050 Flat 1 - Band A Flat 2 - Band A

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Disclaimer - Property reference 6404699. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by CPH Property Services, Scarborough - Commercial. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

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