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3 Bedrooms Property for sale in Ramshill Road, Scarborough

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3 Bedrooms Property - £160,000

Ramshill Road, Scarborough

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First listed on: 03rd September 2016

Nearest stations: Scarborough (0.5 mi)Seamer (2.4 mi)Filey (6.2 mi)Hunmanby (7.7 mi)

Interested in this property? Call See phone number 01723 352235

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Property 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%

Property 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 Services19 St Thomas StreetScarboroughYO11 1DYJoe Walker MRICS01723 352235joe@cphproperty.co.uk

PROPERTY REF:
ESC 10282 /JW/AM/100816

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Date History Details
11/10/2016 Property listed at £160,000

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Disclaimer

Disclaimer Property reference 14576YO1_6962542. Details are provided and maintained by CPH - Commercial. Nethouseprices.com makes no warranty as to the accuracy or completeness of aforementioned details.

This property is marketed by

CPH - Commercial

19

St. Thomas Street

Scarborough

YO11 1DY

Telephone: See phone number 01723 352235

Arrange Viewing Arrange Viewing with Agent

Disclaimer

Disclaimer Property reference 14576YO1_6962542. Details are provided and maintained by CPH - Commercial. Nethouseprices.com makes no warranty as to the accuracy or completeness of aforementioned details.

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This property is marketed by

CPH - Commercial

19

St. Thomas Street

Scarborough

YO11 1DY

Telephone: See phone number 01723 352235

Arrange Viewing Arrange Viewing with Agent

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