LOT PREVIEW FOR 24th JULY AUCTION LOT 5: Flats 1, 3 & 5 , 31 New Queen Street , Scarborough , North Yorkshire, YO12 7HJ GUIDE PRICE : £110,000 to £120,000 Offered on instructions from the Joint LPA Receivers, three apartments forming part of a conversion of a former hotel to six flats situated in the old town of the popular East coast resort town of Scarborough. Three of the units have already been sold and the subject apartments comprise of a one bedroom and a two bedroom ground and lower ground floor duplex units and a three bedroom first floor unit with sea view. All three units are let on assured shorthold tenancies that currently produce a gross income of £10,100 pa however the rental levels are considered low for the area and the apartments therefore offer potential for uplift at the end of the current term. Flats 2, 4 and 6 were sold on 999 year leases at an ground rent of £100 p.a each. The remaining lots are sold to include the freehold of the block. Please note that the purchaser will pay a 3% premium on the purchase price of the lot.
Posted on: Mon, 08 Jul 2013 10:13:15 +0000
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