22 Castle Rd
Scarborough YO11 1XA

Investment Consideration:
Shop under rented. ERV: £7,000 p.a.
VAT is NOT applicable to this property
Comprises ground floor retail shop and one self-contained flat above (sold-off)
Located opposite Tesco Express and Domino`s Pizza, amongst other retailers
Property Description:
The property comprises ground floor retail shop and one self-contained flat above (sold-off), providing the following accommodation and dimensions:
Ground Floor: 70 sq m (750 sq ft)
Open plan retail, Storage, WC
Tenancy:
The retail shop is at present let to an Individual for a term of years from 21st July 2022 until 31st August 2025 at a current rent of £4,680 p.a. and the lease contains full repairing and insuring covenants. Rent review on 21.06.25 (open market). Tenant option to determine on 21.01.24 with minimum 3 months notice. Deposit held of £780.
The residential flat has been sold off on a 125 Year lease from 25th December 2003 at a ground rent of £25 pear annum.
Location:
Scarborough is a resort town on England’s North Sea coast. Its 2 bays with sandy beaches are split by a headland bearing the 12th-century Scarborough Castle. The property is located in the town centre with occupiers nearby including Tesco Express and Dominos Pizza, amongst others.