12 bedroom block of apartments for sale

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12 bedroom block of apartments for sale

Queen Street, Scarborough
£550,000

Our Summary

  • FOR SALE | Block of 9 residential flats producing a gross income of £55,380pa + Land behind with lapsed planning permission for a block of 3 flats and a pair of semi detached houses
  • There is also a parcel of land to the rear of 34 Queen Street which has lapsed full planning permission for residential redevelopment - Application 14/00480/FL
  • This is currently used a car park for residents but could be redeveloped into a block of 3 x two bedroom flats and 2 x three bedroom townhouses

Description

This is a high-yielding commercial investment property located on Queen Street in Scarborough, comprising nine residential flats that generate a gross income of £55,380 per annum. The property occupies a good position with spectacular rear views of the South Bay and Scarborough Castle. The flats are arranged over five floors and are individually rented, with rents ranging from £400 to £575 per month. The property also includes a parcel of land to the rear with lapsed planning permission for the development of three two-bedroom flats and two three-bedroom townhouses. The location is central to Scarborough's town centre, with nearby shops, restaurants, and the famous South Bay just a short walk away.
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