High Street, Scarborough, YO11

A fully let two storey mixed use investment property that is currently arranged as a commercial lock up shop unit on the ground floor and then a spacious two bedroom first floor flat above, which has the benefit of gas central heating and UPVC double glazing. The building currently generates an income of ?13,500 per annum. To be sold with existing tenancies in place.

The Building

Two storey end terrace building that is currently arranged as a large retail unit along with a spacious two bedroom self contained first floor flat.

Ground Floor

Double doors opening to the main retail area which is currently partitioned off to include a large store room, rear lobby and then a further store room at first floor level.

First Floor

Separate access from the front and rear with stairs leading to the hallway, lounge, two bedrooms, kitchen and bathroom / WC. The flat has the benefit of an additional store room, UPVC double glazing and gas central heating.

Tenure

FreeholdThe ground floor unit is subject to a Landlord & Tenant Act lease to Age UK North Yorkshire Coast and Moors that has expired and they are currently holding over on their existing terms. The first floor flat is subject to an Assured Shorthold Tenancy (AST) where the tenant has been in place for over 24 months.

Income

The building currently generates an income of:Ground floor = ?8,100 per annumFirst floor = ?5,400 per annum

Notes

There is potential to create a further one bedroom flat in the space occupied at first floor level by the commercial tenant and residential, tenant should the opportunity arise in the future. (Subject to local authority planning approval).

Viewing

Strictly by appointment with sole agents Colin Ellis Property Services on 01723 363565