Queen Street, Scarborough Guide price £500,000

FREEHOLD INVESTMENT OPPORTUNITY and to be sold with tenants in place. A substantial block of 9 self contained flats situated in Scarborough town centre that offer an excellent income when fully let. 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. When fully let, this block of 9 flats brings in a gross income of approximately £50,160 pa and has been well maintained by the current owner who is only selling due to other business commitments. This is a rare opportunity to acquire a substantial central block.

Description
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.

Rental Income
F1) £420 pcm
F2) £475 pcm
F3) £475 pcm
F4) £440 pcm
F5) £450 pcm
F6 £375 pcm

1A) £500 pcm
1B) £525 pcm
1C) £520 pcm

TOTAL £4,180 pcm (£50,160 pa)

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.

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.

Viewing
Strictly via sole agents, Colin Ellis Property services on 01723 363565

To view all our commercial listings please visit www.colinellis.co.uk