VILLA ESPLANADEESPLANADE, SCARBOROUGH, NORTH YORKSHIRE, YO11 2QA

Villa EsplanadE ESPLANADE, SCARBOROUGH, NORTH

YORKSHIRE, YO11 2QA

Robin Hood’s Bay – 15 miles, North York Moors National Park – 20 miles, York – 41 miles(All distances are approximate)

‘A brilliant opportunity to acquire an elegant 19th century Grade II Listed building which

presents an exciting development opportunity, located on the ever popular Esplanade with

magnificent sea views.’

EXECUTIVE SUMMARYImpressive Grade II Listed building which presents an

exciting investment/development opportunity.

Located above the cliffs on the prominent Esplanade with extensive views overlooking

Scarborough and the South Bay.

31 self-catered apartments and four letting rooms.

Private parking for up to ten vehicles.

Existing rental income from successfully trading restaurant and bar.

Scope to convert the basement into further accommodation, subject to necessary planning consents.

LOCATION Villa Esplanade is located in the original seaside resort of Scarborough. The property is situated above the cliffs on the beautiful North Yorkshire coast overlooking the South Bay and beyond. The town remains a popular holiday destination and the prominent location on the ever popular Esplanade is just a ten minute walk from Scarborough Town Centre. Other amenities include Ramshill shopping parade, The Spa conference centre and entertainment venue, Italian Gardens and Scarborough Castle.

Good road connectivity in and around Scarborough makes the property easily accessible. The property is located just under a mile away from Scarborough railway station, with rail links to London Kings Cross in just over three hours. Leeds International Airport is 71 miles away offering services to the rest of the UK and beyond.

DESCRIPTION Villa Esplanade is an impressive 19th century Grade II listed building dating back to 1834. The property is full of original features and character, presenting a unique commercial opportunity to acquire the freehold. There is substantial scope to redevelop and refurbish the property to take advantage of its desirable location.

ACCOMMODATION The entrance hall is located to the side of the property and leads into the large reception area where there is a lift that services all floors.

The 31 apartments are laid out over four floors and vary in size. They predominantly feature a kitchen, bathroom, bedroom and living area, some having the bedroom and living area combined. The apartments range from one to two bedrooms and many benefit from spectacular sea views. The four letting bedrooms all have en-suite facilities. In total, the accommodation sleeps up to 102 guests.

The basement covers the floor plan of the building and previously housed the laundry facility for the hotel. The area presents an opportunity for development into further accommodation, subject to necessary planning consents, and has several existing access points. A commercial unit at the front of the basement is currently tenanted and used a popular bar.

COMMERCIAL UNITS The property comprises two commercial units which are currently tenanted and generating substantial rental income. El Gringos is a Mexican restaurant serving 80 covers. The current passing rent is £25,000 per annum with 6 years unexpired on the lease. The Ink Lounge Bar, occupying part of the basement, is a popular destination for tourists and locals combined. The current passing rent is £15,000 per annum on a 10 year lease with an option to break in 2020.

IMPORTANT NOTICE:

Savills, their clients and any joint agents give notice that: 1. They are not authorised to make or give any representations or warranties in relation to the property either here or elsewhere, either

on their own behalf or on behalf of their client or otherwise. They assume no responsibility for any statement that may be made in these particulars. These particulars do not form part of any offer

or contract and must not be relied upon as statements or representations of fact. 2. Any areas, measurements or distances are approximate. The text, photographs and plans are for guidance

only and are not necessarily comprehensive. It should not be assumed that the property has all necessary planning, building regulation or other consents and Savills have not tested any services,

equipment or facilities. Purchasers must satisfy themselves by inspection or otherwise. EH 22/11/18 Kingfisher Print and Design Ltd. 01803 867087.

SAVILLS MANCHESTER

Belvedere, 12 Booth Street, Manchester, Lancashire, M2 4AW0161 236 8644manchester@savills.com

EXTERNAL AREASExternally, there is a private car park with spaces for up to ten vehicles. There is an attractive sun terrace to the front of the building providing the perfect setting for Al Fresco dining, overlooking the South Bay. To the side of the property is a gated service yard. Part of the roof to the front of the property has recently undergone major renovation.

FUTURE POTENTIAL The property presents scope for significant redevelopment. There is potential to redevelop the basement into further holiday apartments. Alternatively, there is potential to redevelop the property into residential apartments, both of which will be subject to necessary planning consents.

GENERAL INFORMATIONBusiness Commercial leases are available upon request to interested parties.

Tenure: Freehold

EPC: EPC rating – E

Services We are informed that the property is connected to mains drainage, water, gas and electricity.

Guide Price: £1,250,000

VAT

Should the sale of the property or any right attached to it be deemed a chargeable supply for VAT purposes, such tax will be payable by the purchaser in addition to the sale price.

Local Authority

Scarborough Borough Council Town Hall, St Nicholas Street, ScarboroughNorth Yorkshire YO11 2HGTelephone: 01723 232 323

Postcode: YO11 2QA

Directions

Leave the M1 at junction 44 and use the left two lanes to merge onto the A64 towards York. After approximately 19 miles, at Hopgrove Roundabout, take the second exit and stay on the A64 for approximately 31 miles. At Staxton roundabout take the first exit onto Spital road/A64 and continue for approximately 2 miles and then at the roundabout take the second exit to stay on the A64. Continue on the A64 and at the roundabout take the second exit to stay on the A64. After approximately 0.5 miles, turn right onto Queen Margaret’s road/B427 then almost immediately turn left onto Filey Road/A165. Turn right onto Belmont Road, the road turns slightly right and becomes Esplanade, the property is located on the right where Albion road meets Esplanade.

Contacts

Tom Cunningham0161 244 770907894 341 564tcunningham@savills.com

Emily Hopewell 0161 244 779307870 999 251emily.hopewell@savills.com

Savills ManchesterBelvedere, 12 Booth Street, Manchester, M2 4AW

Viewings

Strictly by appointment with Savills. Prior to making an appointment to view we strongly recommend that you discuss any particular points which are likely to affect your interest in the property with a member of staff who has seen the property in order that you do not make a wasted journey.