+++A substantial investment block offering 16 one and two bedroomed apartments with a current income of approximately £73,000 per annum+++
Scarborough is one of the first spa towns of the UK and popularity soared with the introduction of the train which put Scarborough on the map as a holiday destination and in recent years it has become an area which has drawn many investors. We now have Europe's biggest open air theatre, a brand new university campus thanks to Coventry University, a new football ground, the Sands complex which includes luxury apartments and high-end bespoke eateries, a new RNLI lifeboat house, a multi-plex cinema with restaurants and luxury apartments is being built on the North Bay, the biggest McCain's plant in the UK nearby and the best fish and chips of the north.
SERVICES All mains services
Tenant/Income information The building comprises of 16 one and two bedroom self contained flats. 12 x one bedroom and 4 x two bedroom. 3 of the 2 bedrooms flats has gas, the rest of the building is gas free. Every flat is up to current standards of fire safety and health and safety regulations.
Flat 1 - £446.30 - 2 bedrooms
Flat 2 - £470 - 2 bedrooms
Flat 3 - £475 - 2 bedrooms
Flat 4- £475 - 2 bedrooms
Flat 5 - £365 - 1 bedroom
Flat 6 - £350 - 1 bedroom
Flat 7 - £365 - 1 bedroom
Flat 8 - £350 - 1 bedroom
Flat 9 - £350 - 1 bedroom
Flat 10 - £385 - 1 bedroom
Flat 11 - £385 - 1 bedroom
Flat 12 - £350 - 1 bedroom
Flat 13 - £360 - 1 bedroom
Flat 14 - £350 - 1 bedroom
Flat 15 - £350 - 1 bedroom
Flat 16 - £325 - 1 bedroom
GROSS INCOME Total Gross Income £73,815.60
OUTSIDE To the front there are 6 parking spaces and a bin area.
To the rear is a large grassy garden area with a boarded former swimming pool and a quaint summer house. Currently the two lower ground floor flats are each allocated a portion of this garden and the remainder is communal. There is a gardener in place.
TENURE Leasehold with 125 years from 29/9/2002 with ground rent of £250 per flat per annum, £4000 total.
Subject to verification and clarification of solicitors in a contract of sale
VIEWING Gladly arranged through Andrew Cowen Estate Agent, 1 Harcourt Place, Scarborough, YO11 2EP