Ramshill Road, Scarborough Guide price £370,000

Freehold Investment situated on the ever busy Ramshill Road on the south side of Scarborough, this impressive four storey end terrace investment block presents a great opportunity for discerning investors. Comprising a ground floor retail unit let out to a long standing Pizza Hut delivery franchisee and three self contained flats above that have had the benefit of being completely refurbished and renewed in late 2023.

The building currently generates an income of £34,500 per annum and is full let and being sold with all the tenancies in place. This equates to an initial yield of 9.3% for a building that should not require any major capital expenditure in the next few years.

Location
The building is prominently positioned on the busy Ramshill Road shopping parade on the south cliff side of Scarborough town.

Tenure
Freehold and subject to the remaining terms of a formal Landlord & Tenant Act lease on the ground floor that expires on 23rd January 2034 and Assured Shorthold Tenancies (AST) on the flats.

The building
This four storey end terrace building is arranged as a mix use property with a well established Pizza Hut delivery on the ground floor and then three very well presented and spacious flats on the uppers, which were all subject to a comprehensive scheme of refurbishment in 2024.

Income
Ground floor - £12,000 per annum
First floor - £7,500 per annum
Second floor - £7,500 per annum
Third floor - £7,500 per annum

This provides a gross rental income of, £34,500 per annum

Viewings
Strictly via sole agents Colin Ellis Property Services on 01723 363565

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