9 bedroom house for sale

CPH are delighted to bring to the market this COMMERCIAL INVESTMENT OPPORTUNITY that will no doubt be of interest to local and national investors. This attractive property occupies a good position in the centre of BLANDS CLIFF, boasting spectacular rear views of the South Bay. This former B&B has huge potential for any investor looking to Holiday let or run as a large HMO (subject to gaining the necessary consents).

This is a rare opportunity to acquire a substantial central block. Rental demand within the town is currently high and there maybe an opportunity to increase the current rental income. CPH Property Services offer a competitive MANAGEMENT SERVICE should any prospective purchaser require their investment to be looked after.

LOCATION:
Scarborough is an established commercial, tourist and retail centre, approximately 40 miles east of York with a population of in the region of 81,000 people and a district population of around 110,000 persons (Sources: ONS and Focus). The town is adjacent to the North Yorkshire Moors National Park and is one of the principal resorts on the north east coast attracting an estimated 7 million visitors a year.

Blands Cliff lies at the bottom end of Scarborough town centre and links the centre of Scarborough to the South Bay and is a mixed use locality with a number of commercial operators within the vicinity. Scarborough's famous South Bay is directly accessed from the subject premises.

DESCRIPTION & ACCOMMODATION:
The property comprises a mid terrace, brick constructed building currently setup with nine bedrooms, six shower rooms, five kitchen's and a former commercial premises arranged over lower ground, ground, first, second, third and fourth floors, being held under a pitched and slated roof and benefitting from front facing views of the famous Grand Hotel and rear views of Scarborough's attractive South Bay. This property also benefits from a generous rear garden.

Business Rates: - Rateable value at current is £8,400 and is therefore eligible for small business rates relief.

Auction Information: - Auctioneer's Comments

This property is for sale by the Modern Method of Auction. Should you view, offer or bid on the property, your information will be shared with the Auctioneer, iamsold.
This method of auction requires both parties to complete the transaction within 56 days of the draft contract for sale being received by the buyers solicitor. This additional time allows buyers to proceed with mortgage finance (subject to lending criteria, affordability and survey).
The buyer is required to sign a reservation agreement and make payment of a non-refundable Reservation Fee. This being 4.5% of the purchase price including VAT, subject to a minimum of £6,000.00 including VAT. The Reservation Fee is paid in addition to purchase price and will be considered as part of the chargeable consideration for the property in the calculation for stamp duty liability.
Buyers will be required to go through an identification verification process with iamsold and provide proof of how the purchase would be funded.
This property has a Buyer Information Pack which is a collection of documents in relation to the property. The documents may not tell you everything you need to know about the property, so you are required to complete your own due diligence before bidding. A sample copy of the Reservation Agreement and terms and conditions are also contained within this pack.
The buyer will also make payment of £300.00 including VAT towards the preparation cost of the pack, where it has been provided by iamsold.
The property is subject to an undisclosed Reserve Price with both the Reserve Price and Starting Bid being subject to change.
Referral Arrangements
The Partner Agent and Auctioneer may recommend the services of third parties to you. Whilst these services are recommended as it is believed they will be of benefit; you are under no obligation to use any of these services and you should always consider your options before services are accepted.
Where services are accepted the Auctioneer or Partner Agent may receive payment for the recommendation and you will be informed of any referral arrangement and payment prior to any services being taken by you.