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Avenue Victoria, Scarborough 11 bed block of apartments for sale
Avenue Victoria, Scarborough
£530,000
Avenue Victoria, Scarborough
£530,000
Our Summary
- Occupying an enviable position on Scarborough's desirable SOUTH CLIFF, this ideal investment opportunity comprises of a block of five, spacious self-contained apartments with planning granted for 8 self contained assisted living flats as link - The current vendors have ran as a successful HOLIDAY LETTING business in the past with numerous repeat bookings
- In our opinion, there is scope to ADD VALUE by creating a further apartment at ground floor level which would increase the income stream
- Viewing does come highly recommended for this great investment opportunity
- PLANNING FOR 8 SELF CONTAINED SUPPORTED LIVING FLATS
- Planning for 8 self contained supported living flats
Description
This property, located on Scarborough's desirable South Cliff, offers a unique investment opportunity comprising of five self-contained apartments with planning permission to convert them into eight assisted living flats. The current vendors have successfully operated the property as a holiday letting business, with numerous repeat bookings, and there is scope to add value by creating an additional apartment at ground floor level. The property benefits from a sizeable garage that could be rented out, and is well-located near local amenities, shops, and the beach. If all the properties were rented out on standard ASTs, the block would generate around £40,000 per annum, with potential for more if holiday let. The property is available freehold and qualifies for 100% small business rates relief. Viewing is highly recommended for this great investment opportunity.