Investment Properties for sale in Scarborough

View the "Former Hotel Registered HMO Scarborough" below and request further details. Alternatively, please view the similar businesses in the 'You May Also Like' box below.
 

 We were absolutely overwhelmed by the response to our sales advertisement for our Bath Coffee Shop. 

Mike Watts and Wendy Race (September 2016)
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Freehold Price: £1,350,000 Turnover: £135,000
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Business Description
BUSINESS
Hilton Smythe welcomes to the market this substantial sized former hotel but now registered HMO known as Bradley Court in Scarborough. Our client now looks to sell the business, due to the desire to take a well-deserved retirement.

The HMO is registered for 30 residents made up of working professional people. The HMO can easily achieve 100% occupancy from short and long-term bookings. Much of the trade is from short term bookings based on a minimum of 6 months letting, shorter terms are available. Long term bookings are ideal for trade and allow for a steady income throughout the year.  

In addition to the 30+ bedrooms, there is a 3 bedroom bungalow attached to the property and 4 extra rooms which could be used as an owners apartment or converted into further letting rooms.

 There is scope to boost income by introducing student accommodation trade.

 

The current business is easily run without staff. There is currently an on-site warden, which would be advised and our client visits the HMO every so often.

This is a tremendous opportunity for an investor to buy and develop a good and profitable well established easy to run business and property investment.

LOCATION
Bradley Court is situated on the busy Filey Road in the ever-popular seaside town of Scarborough in Yorkshire.

The property is located within easy walking distance of the town centre, the coast, local shops and supermarkets and the newly built university campus.

There is train station just a short 10 minute walk away and there are bus stops close by.

There is a number of free on-site car parking spaces.

PREMISES
This is a 3 storey impressive former hotel which was originally built in the 1850’s. The property has been refurbished and converted into a licenced HMO accommodating 30 residents in regular, large, super-size or loft space bedrooms; each room comes with en-suite facilities.

There are generous communal areas with 2 fully equipped modern kitchens, a games room and lounge with flat screen TV.

In addition, there are 4 extra rooms which could be used as an owner’s apartment or converted into further letting rooms, based on the appropriate planning permissions.

There is a separate laundry room.

Secure bicycle store.

The building has all fire and electrical certificates.

Heating is delivered via Biomass Boilers.

The building has the benefit of Wi-Fi and CCTV.

In the grounds is a rented bungalow with lounge, kitchen and three bedrooms.

All furniture and fittings are included in the sale.

The property comes equipped with: -

4 x Full sized ovens with hobs

Combi/microwave ovens

Kettles

Toasters

Rice steamers

Blenders

Beds

Couches

TV’s

2 x coin operated washing machines

Coin operated tumble dryer

A state of the art Biomass heating system was installed 3 years ago and produces hot water and heat 24/7 with a guaranteed income of £19,000 per year.

TENURE
The property is of Freehold tenure.

HOURS
The business is run all year round.

STAFF
The business is owner run with the help of an on-site warden.

FINANCIAL PROFILE
The total income for the business including the bungalow and Biomass is circa £135,000 per annum.

EXTRA NOTES
A good investment for buyer looking for a yield of 8% with future capital growth.

Tenure: Freehold

Listed by: Hilton Smythe
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