**Standout Features:**
- Investment block with significant rental income of £46,380/year
- Large ground floor restaurant on a long lease
- Total of 6 residential units: 4 one-bedroom and 2 two-bedroom flats
- Rear development potential for a 2-bed, 2-bathroom, 3-storey conversion
- Recent roof works and new rear windows installed
- Prime town centre location, a short walk to South Bay
**Potential Concerns:**
- High crime rate in the area
- Building has solid brick walls without insulation
- Possible maintenance required due to age (constructed 1900-1929)
**Summary Description:**
Located in the bustling heart of Scarborough, this investment block presents an excellent opportunity for both seasoned and first-time investors. Spanning multiple levels, it features a substantial ground floor restaurant generating a consistent rental income, along with six residential flats designed with modern touches and equipped with gas central heating. The property is further enhanced by recent roof work and new windows, ensuring a solid foundation for future investments. With planning permission for an additional two-bedroom, two-bathroom conversion available, you can capitalize on the property’s existing value while exploring its growth potential.
The location is surrounded by a plethora of amenities, including shops, cafes, and local attractions, catering to a diverse and cosmopolitan community. While the area does have a noted high crime rate, the potential for high occupancy and returns remains robust given the demand for rental units in this vibrant neighbourhood. This unique investment opportunity blends comfort with significant future potential—don’t let it slip away!
