23 Cambridge Place, Scarborough, North Yorkshire

Description

A two bedroom mid-terrace cottage in Scarborough requiring refurbishment throughout with good potential as a holiday let, subject to necessary permissions. The property has additional loft space and comprises a Living Room, Kitchen, Sunroom, Two Bedrooms, Bathroom and Loft Space. Externally, there are front and rear gardens and on street parking. The property has electric storage heaters.

Accommodation

Ground Floor: Living Room - 13'11" x 11'11" (4.24m x 3.65m); Kitchen - 5'10" x 10'9" (1.78m x 3.28m); Sunroom - 7'6" x 12'8" (2.31m x 3.88m). First Floor: Bedroom One - 8'6" x 11'4" (2.60m x 3.47m); Bedroom Two - 7'10" x 10'9" (2.40m x 3.30m); Bathroom - 5'0" x 8'5" (1.54m x 2.57m). Second Floor: Loft Space - 9'6" x 11'2" (2.91m x 3.42m).

Location

Cambridge Place is located in Scarborough, within easy reach of the town centre, local shops and everyday amenities. Scarborough railway station is close by, with regular rail services and local bus routes providing links around the town and surrounding area. The seafront, independent shops, high-street stores and Market Hall are all within a comfortable distance.

Tenure / Property Information

Investment Analysis

Recent direct same-street sales were £89,000 in June 2025 and £93,000 in April 2024. Older same-street sales reached £110,000 in 2022 and £140,000 in 2021. Given the property requires refurbishment throughout and no condition-adjusted evidence is supplied, a base GDV of £93,000 is used, with a supported indicative range of £89,000–£110,000. The older higher sales may not be directly comparable.

Investment Snapshot

Strategy Recommendation

Do not bid on yield or BRRR assumptions alone. Obtain the legal pack, a refurbishment survey and genuinely local rental evidence first; consider a conditional long-term hold only if the all-in cost remains comfortably below the supported GDV range.

Works Required

Refurbishment throughout the living room, kitchen, sunroom, two bedrooms and bathroom, subject to survey and legal-pack review. The evidence does not identify specific defects or support a works cost. The loft space should not be treated as additional accommodation without confirming suitability and permissions.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the guide, the stated buyer premium and admin charge produce a known pre-works cost of £52,760. A 75% refinance of the £93,000 base GDV would be £69,750, leaving a nominal £16,990 above those known costs before refurbishment, finance, tax and other fees. Because refurbishment costs and the post-works valuation are not evidenced, the actual BRRR cash requirement and viability cannot be established.

Buy-to-Let Analysis

The supplied £1,595 pcm figure is an advertised asking rent for two-bedroom properties across North Yorkshire, not an achieved or property-specific rent. On that unverified assumption, annual rent is £19,140 and the gross yield is approximately 38.3% on the £50,000 guide or 36.3% on the guide plus the stated £2,760 buyer premium and admin charge. These figures exclude refurbishment, finance, insurance, utilities, management, voids and other completion charges, so they should not be relied upon until local rent evidence is obtained.

Flip Analysis

The base GDV is estimated at £93,000 from same-street sales, but no refurbishment budget, selling-cost allowance or detailed condition evidence is supplied. A reliable flip surplus and maximum bid therefore cannot be calculated. The apparent margin over the guide is not a confirmed profit.

Investor Risks & Due Diligence

• The property is described as requiring refurbishment throughout, but the scope and cost are unknown.

• The rent evidence is an advertised asking rent across North Yorkshire rather than achieved rent for this property or immediate area.

• Holiday-let use is only described as potential and is subject to necessary permissions.

• Additional disbursements, search fees, seller-cost reimbursements, legal fees and transfer fees may be payable.

• Electric storage heating may affect running costs and tenant or holiday-let appeal, but no energy-performance evidence is supplied.

• The loft space is described only as loft space; no evidence confirms it is habitable or has the necessary permissions.

• The GDV range relies on limited same-street sales with differing dates and no supplied condition comparison.

Recommendation

Do not bid on yield or BRRR assumptions alone. Obtain the legal pack, a refurbishment survey and genuinely local rental evidence first; consider a conditional long-term hold only if the all-in cost remains comfortably below the supported GDV range.

Strategy Rating

Analysis Confidence

There are two recent direct same-street sales and clear tenure, accommodation and fee information, but no EPC, detailed condition report, refurbishment budget, property-specific achieved rent, selling costs or legal-pack information.