Mixed Use Investment Opportunity in Scarborough

A freehold commercial investment opportunity comprising 3 ground floor retail units with 3 flats situated on the upper floors. 3 & 7 Market Way are sold with vacant possession; 5 Market Way is let out by way of a premium payment with a term running from 2002 to February 2113 and annual ground rent of £10. Flats 2 and 4 are sold by way of long leaseholds, which also expire in 2113 and detail an annual rent of £10 each; Flat 6 is sold off on a longer leasehold title with an annual ground rent of £1. The property offers potential for the rental income to grow substantially via letting of the vacant retail units and will appeal to local and national investors. The property occupies a prominent position on Market Way in Scarborough town centre, close to St Thomas Street and Eastborough. The surrounding area comprises a mix of retail, leisure and commercial occupiers together with residential accommodation above ground-floor commercial units, generating consistent pedestrian footfall. Scarborough is a popular North Yorkshire coastal town with a diverse economy centred around tourism, retail, education and healthcare. The property is within walking distance of Scarborough railway station, with regular services to York and beyond, while the A64 provides the principal road link to York, Leeds and the wider motorway network. The Market Hall, Brunswick Shopping Centre and the seafront are all nearby, with the central location providing convenient access to local amenities and public transport.