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Investment with retail unit and upper maisonette

Scarborough, YO11 - Get Access

Description

The freehold interest in a mixed-use property comprising a ground-floor retail unit extending to approximately 54.6 sq m (588 sq ft), together with an upper-floor maisonette sold off by way of long-leasehold. The ground-floor commercial accommodation is sold with vacant possession and comprises a main sales area, secondary sales area, kitchen and W.C. The unit may appeal to owner-occupiers and investors, with potential for a variety of commercial uses, subject to the necessary consents. The maisonette occupying the upper floors has been sold off on a long lease for a term of 125 years from 1999, producing ground rent of £10 per annum. The property is situated on Hanover Road in central Scarborough, close to the town’s principal retail and commercial amenities. Scarborough railway station, the town centre and a range of shops, cafés and services are all within convenient walking distance. Road connections are available via the A64 and A165.
Comparable sales
No comparables available.
Estimated market value
£
Range: £ — £
Medium confidence Floor Area: 588 sq ft (Listing)

Valuing a mixed-use commercial and residential freehold property in central Scarborough requires assessing the vacant ground retail floor area of 588 sq ft alongside the freehold reversionary interest. The interior exhibits dated finishes and ceiling water staining requiring an estimated £8,000 to £18,000 of refurbishment. Floor area is derived from official listing specifications.

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