Guide price of £425,000

5 bed for sale in North Marine Road, Scarborough, YO12


Key Features

  • Investment Opportunity
  • Iconic Landmark Building
  • Freehold Also
  • 2 X Two Bedroom Apartments
  • 1 X One Bedroom Garden Flat
  • Ground Floor Cafe With Terrace
  • Current Income of £24,400
  • Expected Increases to £30,800
  • Well Maintained Building
very rare opportunity to acquire this corner iconic landmark freehold building consisting of two x two bedroom apartments, one x one bedroom garden apartment and large ground floor cafe. Well maintained by the current owner and income of £27,100..

- Harris Shields Collection are pleased to offer this investment opportunity based on North marine Road, next to Peasholm Park and close to the North Bay Beach. The building consists of 2 x two bedroom apartments, 1 x one bedroom garden apartment and a ground floor cafe with 48 covers inside and 20 covers outside, storage cellar and downstairs toilets. The 2 x two bedroom apartments are located on the first and second floor and currently let out at £495.00 per apartment £11,880 per annum together. The garden apartment is currently vacant but could let out at £425.00 per month or increase turnover by introducing holiday lets/AirBnB. The building has been well maintained by the current owners with 3 phase electric to the building cellar and up to the cafe, All flats have required selective licences. The building also has electrical certification with extensive works to the roof and render. The fire escape has been refurbished and painted summer 2021. Fire alarm tested weekly. TOTAL INCOME WOULD BE £27,100 FROM JANUARY 2022 AND £30,800 FROM 1ST JANUARY 2023. Viewing strictly via appointment with Harris Shields Collection

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