3 bedroom mixed use for sale

Ramshill Road, Scarborough

Guide Price £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.


LOCATION: 
Scarborough is an established commercial, tourist and retail centre, lying approximately forty miles east of York with a resident population of some 81,000 and a district population around 110,000 (sources: ONS and Focus). The town is adjacent to the North Yorkshire Moors National Park and is one of the principle resorts on the north east coast, attracting an estimated 7 million visitors a year. More precisely, No 48 & 48a lie on the east side of Ramshill Road which is a busy commercial district, serving the popular South Cliff area of Scarborough. Sainsburys Local, 2 x Costcutters, Pizza Hut Delivery are among the national representatives on Ramshill which also includes many other successful local traders. The upper floor accommodation is accessed via a passageway running behind the parade.

DESCRIPTION: 
The property comprises of a mid terrace traditionally constructed mixed use property. The ground floor benefits from a generous display frontage with an offset recessed timber and glazed entrance door leading to accommodation that is utilised by the current tenant as a body piercing studio. The front sales area provides a reception desk and customer waiting area whilst to the rear lies a partitioned hygienic room used for the piercing. To the rear of the shop lies a storage area together with a toilet facility. The residential accommodation is laid out as follows:

GROUND FLOOR: 

Bedroom 1: 
12' 6'' x 5' 9'' (3.82m x 1.75m)

FIRST FLOOR: 

Communal Kitchen: 
11' 11'' x 9' 3'' (3.62m x 2.82m)

Communal Lounge: 
14' 2'' x 12' 0'' (4.32m x 3.65m)

Communal Bathroom: 
6' 0'' x 7' 0'' (1.83m x 2.13m)

SECOND FLOOR: 

Bedroom 2: 
9' 3'' x 14' 1'' (2.82m x 4.30m)

Bedroom 3: 
12' 0'' x 14' 2'' (3.65m x 4.31m)

SERVICES: 
Mains electricity and water appear to be connected. Prospective purchasers are advised to satisfy themselves with regards to services connected.

BUSINESS RATES & COUNCIL TAX: 
The commercial element has been assessed for business rates at £4,400 whilst the residential accommodation has a council tax band of 'B'.

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

VIEWING: 
Via the sole agents: CPH Property Services 19 St Thomas Street Scarborough YO11 1DY Joe Walker MRICS 01723 352235 joe@cphproperty.co.uk

PROPERTY REF: 
ESC 10282 /JW/AM/100816 Amended 141216

More information from this agent

Nearest stations

  • Scarborough (0.5 mi)
  • Seamer (2.3 mi)
  • Filey (6.2 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

CPH Property Services, Scarborough - Commercial

19 St. Thomas Street, Scarborough, YO11 1DY

01723 315040 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Floorplans


To view this property or request more details, contact:

CPH Property Services, Scarborough - Commercial

19 St. Thomas Street, Scarborough, YO11 1DY

01723 315040 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest stations

  • Scarborough (0.5 mi)
  • Seamer (2.3 mi)
  • Filey (6.2 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

CPH Property Services, Scarborough - Commercial

19 St. Thomas Street, Scarborough, YO11 1DY

01723 315040 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

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