Falsgrave Road, Scarborough
- PROPERTY TYPE
Block of Apartments
- BEDROOMS
7
- SIZE
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- TENUREDescribes how you own a property. There are different types of tenure - freehold, leasehold, and commonhold.Read more about tenure in our glossary page.
Freehold
Key features
- SUBSTANTIAL FREEHOLD MIXED USE INVESTMENT
- PROMINENT POSITION ON FALSGRAVE ROAD
- GROUND FLOOR COMMERCIAL UNIT CURRENTLY USED AS A FISH & CHIP SHOP
- SEVEN ONE BEDROOM RESIDENTIAL FLATS
- ALL SEVEN FLATS CURRENTLY LET ON LONG TERM TENANCIES, SIX ON FULLY REPAIRING LEASES
- COMBINED RENTAL INCOME APPROXIMATELY £57,000 PER ANNUM
- ESTABLISHED COMMERCIAL & RESIDENTIAL INCOME
- POTENTIAL FOR ADDITIONAL FLATS, SUBJECT TO THE NECESSARY CONSENTS & REGULATIONS
- OPPORTUNITY FOR INVESTORS, LANDLORDS & DEVELOPERS
- SCOPE TO IMPROVE & FURTHER ENHANCE THE BUILDING & ITS INCOME POTENTIAL
Description
The building currently produces a combined rental income of approximately £57,000 per annum, providing an established income stream from both the commercial and residential elements. Of particular interest to investors and developers is the potential to create additional residential accommodation within the building, subject to obtaining all necessary planning permissions, Building Regulations approval, licensing and other relevant consents.
Investment Opportunity - The combination of an existing commercial tenant/use and seven one bedroom occupied residential units makes this an attractive proposition for purchasers seeking a multi-income freehold investment. At the stated income of £57,000 per annum, the property currently generates approximately £4,750 per calendar month gross. Prospective purchasers should satisfy themselves as to the individual rents, tenancy terms, commercial lease arrangements and all associated running costs.
The building also offers an opportunity to explore further residential conversion or reconfiguration, potentially increasing the number of letting units and overall rental income. Any such works would be subject to the appropriate planning, Building Regulations, fire safety, licensing and other statutory requirements.
Important Information - The rental figure of £57,000 per annum is the combined current rental income as supplied by the vendor. Full tenancy schedules, lease details and supporting documentation should be verified by the purchaser and their legal advisers.
Any reference to the possibility of creating additional flats is intended only to highlight the property’s potential. No representation is made that planning permission or other necessary approvals have been granted, and interested parties should make their own enquiries with the relevant authorities before relying upon any proposed development or conversion.
Epc For Flats & Commercial Unit - Flat 1: C
Flat 2: C
Flat 3: C
Flat 4: C
Flat 5: C
Flat 6: C
Flat 7: C
Commercial Unit: D
Council Tax Band For Flats - Flat 1: A
Flat 2: A
Flat 3: A
Flat 4: A
Flat 5: A
Flat 6: A
Flat 7: A
Brochures
Falsgrave Road, Scarborough- COUNCIL TAXA payment made to your local authority in order to pay for local services like schools, libraries, and refuse collection. The amount you pay depends on the value of the property.Read more about council Tax in our glossary page.
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- PARKINGDetails of how and where vehicles can be parked, and any associated costs.Read more about parking in our glossary page.
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- GARDENA property has access to an outdoor space, which could be private or shared.
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- ACCESSIBILITYHow a property has been adapted to meet the needs of vulnerable or disabled individuals.Read more about accessibility in our glossary page.
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Energy performance certificate - ask agent
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Visit our security centre to find out moreDisclaimer - Property reference 34983387. 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 Colin Ellis Estate Agents, Scarborough. 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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