Victoria Road, Scarborough OIRO £180,000

FOR SALE | High Yielding Mixed Use Investment Property on Popular Victoria Road. Generates a Gross Income of £17,560pa. BUSINESS NOT AFFECTED. Good EPC Ratings.

We bring to the market this mid terrace commercial and residential property that will appeal to investors. The ground and lower ground floor trades successfully as 'The Jam Jar' and is a popular venue for for weekend drinkers and private parties. The tenants took a 6 year IRI lease from 1st January 2019 and there maybe a possibility they would consider signing a new lease (all subject to negotiation).
The passing rent is £10,000pa.

The first and second floors are occupied by a private tenant who currently pays £630 per calendar month. The tenant keeps the maisonette is very clean and tidy order which itself provides spacious two bedroom accommodation, accessed directly via a well kept passageway from Cambridge Street. The residential accommodation benefits from gas central heating via an 'Ideal' combi boiler and also has uPVC double glazing throughout. The building lies within an area zoned for 'Selective Licensing' and therefore adheres to the Local Authority's housing standards. The landlord is meticulous in his dealings and has provided us with the gas safety certificate, the electrical condition reports, the commercial lease and the residential AST agreement. These are available to view at our office to seriously interested parties.

Tenure: Freehold, subject to commercial and residential tenancies.

EPC: 47 Victoria Road (commercial) - Band C. Expires June 2032
47a Victoria Road (residential) - Band C. Expires March 2031

Local Taxation: 47 Victoria Road - RV £7,800 (Qualifies for 100% Small Business Rates Relief)
47a Victoria Road - Council Tax Band A