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3 bedroom mixed use for sale

Ramshill Road, Scarborough

Withdrawn from Market £150,000

Property Description

Key features

  • MIXED USE INVESTMENT PROPERTY
  • SHOP TENANT - 5,700PA
  • UPPER FLOORS - 13,520PA POTENTIALLY
  • LANDLORD PAYS UTILITIES FOR UPPER FLOORS
  • POTENTIAL GROSS RETURN OF 12.8%
  • UPPER FLOORS MANAGED BY LOCAL COMPANY

Full description

+++ HIGH YIELDING INVESTMENT PROPERTY LOCATED ON BUSY RAMSHILL ROAD +++

Located within the popular South Cliff district of Scarborough, is this mixed use investment which offers a great return to investors. The ground floor is subject to a commercial lease to a private individual at a rent of £5,700pa. This lease expires in May 2018.   The upper floor accommodation is let out as an HMO and is managed by 'Scarborough Fair Accommodation'.  Each of the four tenants pay £65 per week (this is an all inclusive rent - utilities, council tax etc are paid for by the landlord) which brings in a further £13,520pa - assuming 100% occupancy throughout the year.  This is a fantastic opportunity to acquire this well positioned, mixed use investment which represents a Gross Initial Yield (GIY) of 12.8%. Viewing is highly recommended.


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