Flat 1, 45 Esplanade Road, Scarborough, North Yorkshire YO11 2AT

Description

Description A spacious three bedroom flat, in the highly sought-after South-side of Scarborough. The property has central heating, partial double glazing, and would now benefit from some modernisation.

The property will be sold with vacant possession and viewings are available to arrange, via the website. Externally, there is an outdoor seating area and low maintenance yard.

With three bedrooms, the property would suit becoming a holiday let/AirBnB, buy to let, or a second home for those looking to be near the coast. Located on Esplanade Road just off Scarborough’s sought after Esplanade.

This property is situated amongst amenities and attractions including Ramshill Shopping Parade where a variety of local shops and eateries are located, Scarborough’s South Bay Beach and Scarborough Castle, Italian Gardens, scenic walks over the Spa Bridge to Scarborough Town Centre and beyond.

Leasehold 983 years left. Maintenance paid to Manhattan Properties: £1486.37 per annum Ground Rent: £125.00 per annum Holiday Lets Allowed. Note Please be advised that the auctioneers have not personally inspected the property.

Prospective buyers are advised to make a viewing enquiry and any other necessary independent enquiries before placing their bid, as this will be binding. Accommodation Lower Ground Floor Lounge, Kitchen, Three Bedrooms, Bathroom and WC. Tenure Leasehold Occupancy Vacant possession upon completion

Investment Analysis

Investment Snapshot

Underwriting basis. This is an indicative desktop appraisal. GDV is an estimated post-works/open-market value, not a guaranteed valuation. Comparable research is widened from the same street/postcode to the surrounding market up to approximately five miles where necessary.

Market Comparables

• Specialist asset: working market value is estimated from guide, asset type, income/development potential and local market evidence; midpoint £53,900.

HB estimated GDV: £50,000 low / £54,000 base / £58,000 high. The range reflects comparable quality, condition and the fact that auction stock can trade below normal owner-occupier market value.

Proposed Works

The allowance follows the auction description/visible condition and investor-standard refurbishment scope. It is not a structural survey or contractor quotation.

Strategy & Value Analysis

This is not a conventional single-dwelling BRRR/flip asset. The value case should be assessed using the specialist strategy appropriate to the property—income capitalisation, asset management, planning/development or land value—while still using the market-value range above as an indicative exit benchmark.

Key Risks

Confirm legal title/tenure, occupancy, planning/licensing, service charge/ground rent where relevant, structural condition, utilities, abnormal works and finance terms. Market comparables are indicative and should be refreshed immediately before bidding.