**ATTENTION INVESTORS** A fantastic mixed-use investment property comprising a Café let on a seven-year lease and a 5-bedroom apartment let as holiday accommodation, providing a total net income of approximately £31,500 pa.
Viewing Details
Strictly by appointment with Auction House on 0845 400 99 00 or the joint agents Reeds Rains on 01723 365335.
Location
Scarborough is one of the principal resorts on the North East Coast, attracting an estimated 7 million visitors a year. More precisely, the property occupies a fantastic trading position on Eastborough, linking the town centre with the South Bay and is a well-trodden route during the busy tourist seasons.
Description
Located just yards from Scarborough's famous South Beach and Harbour, this five-story mixed-use property benefits from stunning sea and coastal views, and is ideally situated in Scarborough's historic Old Town. Being situated a stone's throw from Foreshore Road & Sandside (South Bay) and also a short stroll from Scarborough's Town Centre, this property is going to appeal to numerous purchasers / investors. We believe this to be a fantastic opportunity to acquire the Freehold interest in this prominent Old Town building.
73 Eastborough ( Cafe / Bistro )
In brief, the Café/Bistro is spread over two floors, featuring a large kitchen, two storage rooms, and a staff W/C on the lower ground floor. The main Café/Bistro, which has seating for approximately 60, is located on the ground floor (street level). The Café is currently let on a 7-year lease, which expires on 31 December 2032. The current owners and tenants are in the process of negotiating a lease extension. The current monthly rent of the Café is £834.75 pcm with 5% annual uplift. It is not the business which is for sale; it is the Freehold of the entire property that is offered to the market.
73a Eastborough ( The Stoop )
Opened in February 2023, the maisonette is currently run as a successful holiday let, with a £21,480 net annual income for 2025 already secured, and bookings being taken into 2026. The Stoop has been fully refurbished to a high standard by the current owners. The accommodation briefly comprises; private entrance on the street level with stairs leading up to the first floor landing, located on the first floor is a well presented sitting room, modern spacious dining kitchen leading to a large balcony offering sea/bay. Stairs from the landing area lead to the second floor, where three spacious bedrooms and a bathroom are located. The main bedroom benefits from an en-suite facility and stunning views of Scarborough South Bay. To the top floor lie two further bedrooms, both with modern en-suite facilities.
Accommodation
Ground Floor
Cafe 53 ft 1 x 19 ft 8
Lower Floor
Store 1 14 ft 1 x 12 ft 7
Store 2 15 ft 5 x 10 ft 5
Kitchen 19 ft 11 x 15 ft 1
Maisonette ( The Stoop )
First Floor Landing
Stairs leading to the second floor. Store, Access to the sitting room and dining kitchen.
Dining Kitchen 19 ft 8 x 10 ft 1
Spacious modern kitchen / dining area with wall and base units, worktop surface areas with splashbacks, and incorporating an inset sink unit. Built-in electric oven and hob with extractor. Integral dishwasher and space for a stand-up fridge/freezer. Seating area, radiator. Double-glazed window, double-glazed doors leading to the balcony.
Balcony 15 ft 10 x 11 ft 6
A fantastic space/seating area with views of the South Bay.
Sitting Room 18 ft 5 x 13 ft 7
Sash windows to the front elevation, radiator. Store room.
Second Floor Landing
Bedroom One 12 ft 5 x 10 ft 9
Double bedroom with a bay window to the rear elevation with sea views. Radiator.
En-Suite Shower Room 7 ft 8 x 7 ft 3
Step in shower cubicle, a wash hand basin and a low-level WC. Radiator. Double-glazed window.
Bedroom Five 16 ft 3 x 13 ft 8
Front-facing double bedroom with a dormer-style window and a radiator. Door to the en-suite.
Bedroom Two 15 ft 1 x 10 ft 9
Double bedroom with a sash window to the front elevation, radiator.
Bedroom Three 13 ft 7 x 7 ft 2
Single bedroom with a sash window to the front elevation, radiator.
Bathroom 6 ft 5 x 6 ft 2
Bath with shower over, wash hand basin and a low-level WC. Radiator. Space for a washing machine.
Second Floor
Landing with Doors to bedrooms four and five.
Bedroom Four 16 ft 5 x 10 ft 0
Rear-facing double bedroom with two skylights, sea views, and a radiator. Door to the en-suite.
En-suite 7 ft 2 x 6 ft 2
Step in the shower, wash the hand basin and a low-level WC. Radiator.
En-Suite 7 ft 2 x 4 ft 9
Step in the shower, wash the hand basin and a low-level WC. Radiator.
Tenure
We understand the property to be Freehold. The property is sold subject to existing tenancies - please see the legal pack for details.
Tenancy
The property is sold subject to existing tenancies - please see the legal pack for details.
Note
Council Tax
Business rates are payable to the North Yorkshire Council. The cafe has a current rateable value of £5,800. The rates on the cafe are paid by the tenant. The apartment is also assessed for business rates with a rateable value of £3,750.
Lot Type
Residential Investments
Important Notice to Prospective Buyers
We draw your attention to the Special Conditions of Sale within the Legal Pack, referring to other charges in addition to the purchase price which may become payable. Such costs may include Search Fees, reimbursement of Sellers costs and Legal Fees, and Transfer Fees amongst others.
Buyers Premium
The purchaser will be required to pay a buyer's premium of £1,800 (£1,500 plus VAT) in addition to the purchase price of the property.
Administration Charge
The purchaser will be required to pay an administration charge of 0.3% inc. VAT subject to a minimum of £1,200 (£1,000 plus VAT) in addition to the purchase price of the property.
Disbursements
Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.
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- 5 Bedrooms
- Tenure: We understand the property to be Freehold. The property is sold subject to existing tenancies - please see the legal pack for details.
- Unconditional (Immediate Exchange)
Call the team on 0845 400 9900 for more information
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