Scarborough, YO12 7QP | Investment Property for Sale | VES-YO12-005

Opportunity to purchase a 2-unit block in Scarborough generating £8,916 rent pa & gross yield of 6.6%

£135,000

2-unit block

VES-YO12-005

INITIAL INVESTMENT

£41,300

Based on

deposit: £33,750

stamp duty: £4,050

mortgage fees: £1,500

conveyancing fees: £2,000

GROSS RENT

£8,916

GROSS YIELD

6.6%

ADD TO FAVOURITES

The block

TENURE

Freehold

NO OF UNITS

2

TENANCY STATUS

Tenanted

FURNISHED

No

TOTAL SQ FT

1,243

PRICE SQ FT

£109

Please note that this property is also part of a larger portfolio listing

Property information

  • Mid-terraced house consisting of:
    • 1 x 1-bed flat
    • 1 x 2-bed flat
  • Ground floor flat:
    • 1-bed flat
    • This property is currently undergoing redecoration works throughout
    • A new bathroom is also being installed and all works are expected to finish in November 2020
    • Kitchen leads to a side courtyard
  • Top floor flat:
    • 2-bed flat
    • Split over 2 floors
    • The vendor informs us they are unable to undertake decoration works whilst the tenant is in situ. Instead the vendor would like to offer £5,000 contribution, in the form of a discount on purchase or cashback, to carry out any required works, such as decoration or updating the kitchen.
  • EPC ratings D

Rental information

  • Total rental income pcm: £743
  • Total rental income pa: £8,916
  • All tenancy agreements have been extended by 12 months in October 2020

Location information

  • Scarborough city centre is around 0.8 miles from the property
  • Peasholm Park is a 10-minute walk from the property

Floorplans

Documents available on request, please contact for viewings or further questions.

The information relating to this property is supplied by the vendor and was the latest available information at the time of listing. Certain information may expire or become inaccurate over time.

Vesta makes no warranty as to the accuracy or completeness of the property listing or any associated information. All information should be reviewed by the purchaser and their solicitor.

About Scarborough, North Yorkshire

Scarborough is a town on the coast of North Yorkshire, England. It lies around 42 miles north-east of York, 44 miles north of Hull and 49 miles south-east of Middlesbrough.

There are four major roads connecting Scarborough to other major towns and cities. The A64 links it with Malton, York, Leeds, as well as the A19 and the A1(M). The A165 is a coastal rout that goes to Filey, Bridlington and Hull, whilst the A170 connects it to the North York Moors and Thirsk. The A171 is another coastal route leading to Whitby and Middlesbrough.

The town is also very well connected via the railway network. Scarborough railway station is located close to the centre of town and runs services from York, Leeds, Manchester and Liverpool on the North TransPennine Express as well as from Hull on the Yorkshire Coast Line.

Scarborough has a lot of activities to offer, such as the waterpark Alpamare, two beaches which are great for surfing or walking. South Bay comes with arcades, ice cream parlours and shellfish stalls, whilst North Bay is a more peaceful beach and is home to Peasholm Park. One can also go on a number of walking and cycling routes that go through the town and along the coastline. There are two golf courses in Scarborough with great views as well as several crazy golf courses. The Rotunda Museum offers a trip back in time and houses a variety of dinosaur artefacts, whilst Scarborough Castle holds historic significance and has stunning views of the coast.

The town centre offers a wide variety of shopping including High Street favourites as well as independent boutiques and eateries. The Brunswick shopping centre can be found in the main pedestrianised shopping street. There is also an indoor market for antiques and independent traders. Whilst Boyes, a discount department store, is located in Eastfield, on the outskirts of town.

The fishing industry is still very much active in Scarborough, although much smaller than it used to be. Locals can purchase the fresh and locally caught seafood at the fish market by the harbour. SeaGrown is one of the local employers and is a seaweed farm and processing company. The company grows its own seaweed in a special area off the coast of Scarborough and are looking to expand into the bioplastics industry in future. Other industries include McCain Foods, Sirius Minerals and Plaxton Company. Scarborough General Hospital is the largest employer in the area with over 2,400 staff. And of course tourism also plays a major part in the local economy, with Scarborough being the second most-visited destination in England by British holidaymakers.

Scarborough has six state secondary schools, is home to Scarborough University Technical College, as well as the private school Scarborough College. Scarborough International School of English offers English language courses for students from around the world. Further Education is provided by Scarborough Sixth Form College and Yorkshire Coast College. The Coventry University Scarborough Campus opened in 2015 and there is also a campus of the University of Hull’s School of Arts and New Media.

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