Queen Street, Scarborough YO11 10 bed block of apartments for sale

>

Queen Street, Scarborough YO11 10 bed block of apartments for sale

Queen Street, Scarborough YO11
£485,000

Our Summary

  • There is a further development opportunity to the rear of the property, allowing for potential expansion for a 2 bed, 2 bathroom, 3 storey conversion , which could significantly increase its value and income potential
  • In summary, this block of flats on Queen Street is not only a well-structured property with ample living space but also a promising investment with the potential for further development
  • REAR DEVELOPMENT OPPORTUNITY
  • Rear development opportunity

Description

This property on Queen Street in Scarborough town centre offers a unique investment opportunity, with a substantial yearly income of £46,380 from a restaurant and six flats. The block, comprising a mid-terrace building, is well-structured with ample living space and has a long lease in place for the restaurant. The flats, arranged over three floors, are currently let on shorthold assured leases, generating a total income of £23,350 per annum. The property also presents a further development opportunity to the rear, allowing for a potential conversion into a 2-bedroom, 2-bathroom property, which could significantly increase its value and income potential. With its central location, close proximity to Scarborough's famous South Bay, and existing rental income, this property is an attractive investment opportunity for both experienced investors and those looking to enter the property market.