9 bedroom commercial property for sale

Queen Street, Scarborough

Guide Price £400,000

Property Description

Key features

  • HIGH YIELDING COMMERCIAL INVESTMENT
  • THREE x 2 BEDROOM FLATS & SIX x 1 BEDROOMS FLATS
  • GROSS INCOME £40,276PA - GIY 10.07% RETURN
  • FULL MANAGEMENT SERVICE AVAILABLE
  • ALL ENQUIRIES TO CPH COMMERCIAL

Full description

We are delighted to bring to the market this HIGH YIELDING COMMERCIAL INVESTMENT that will no doubt be of interest to local and national investors. This attractive property occupies a good position on the east side of Queen Street, boasting spectacular rear views of the South Bay and Scarborough Castle.  This block of 9 flats brings in a gross income of £40,276pa and has been well maintained by the current owner who is only selling because of retirement.  This is a rare opportunity to acquire a substantial central block which is PRICED TO SELL.  Rental demand within the town is currently high and there maybe an opportunity to increase the current rental income.  CPH Property Services offer a competitive MANAGEMENT SERVICE should any prospective purchaser require their investment to be looked after.  All enquires to CPH COMMERCIAL.

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. Queen Street lies within the heart of Scarborough town centre and links Castle Road to Newborough and is a mixed use locality with a number of commercial operators such as Boyes Superstore, Scarborough Snooker Centre and The Lanterna Restaurant being located within the vicinity. Scarborough's famous South Bay is a 5 minute walk from the subject premises. Some of the eastern facing flats enjoy stunning views of the South Bay and Scarborough Castle.

DESCRIPTION & ACCOMMODATION: 
The property comprises a mid terrace, brick constructed block of nine flats, arranged over lower ground, ground, first, second and third floors, being held under a pitched and slated roof. The flats are accessed via a communal entrance door from Queen Street with emergency lighting and smoke alarms being noted within the hallway and stairs leading both to the upper floors and lower ground floor. The flats are laid out as follows: Lower Ground Floor Flat C (2 Bedrooms) - £515 pcm Ground Floor Flat A (2 Bedrooms) - £475 pcm Flat B (2 Bedrooms) - £390 pcm First Floor Flat 1 (1 Bedroom) - £370 pcm Flat 2 (1 Bedroom) - £350 pcm Second Floor Flat 3 (1 Bedroom) - £350 pcm Flat 4 (1 Bedroom) - £325 pcm Third Floor Flat 5 (1 Bedroom) - £325 pcm Flat 6 (1 Bedroom) - Vacant

TENURE: 
Believed to be freehold. Tenancy agreements will be made available to view to seriously interested parties.

ENERGY PERFORMANCE CERTIFICATE (EPC): 
The flats have an energy assessment of: Band . Copies of the EPC's and Recommendation Reports can be viewed at our offices.

SERVICES: 
The property appears to be connected to all main services. Prospective purchasers are advised to make their own enquiries with regards to services connected.

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 REF: 
ESC 10160/JW/AM/230416

More information from this agent

Nearest stations

  • Scarborough (0.4 mi)
  • Seamer (3.1 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.

Map & Street View

Nearest stations

  • Scarborough (0.4 mi)
  • Seamer (3.1 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.

Disclaimer - Property reference 6681943. 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.

Map data OpenStreetMap contributors.