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Villa Esplanade Hotel & Apartments, Esplanade, Scarborough YO11

Offers over £1,000,000 - 35 bedroom Detached for sale

About this property:



An exciting opportunity to acquire the freeholdto this substantial iconic building located on Scarborough’s Esplanade benefiting from spectacular sea and coastal views. The Villa Esplanade is collection of 35 self-contained self catering apartments, situated on Scarborough’s elegant South Cliff, overlooking Scarborough’s beautiful south bay, castle headland and harbour. An elegant 19th century building, dating back to 1834, the building also incorporates 'El Gringo's Mexican Restaurant' together with arguably Scarborough's most stylish bar offering 'INK'. This therefore generates substantial rental income to supplement the excellent trading figures posted by the self catering apartments. Viewing is strongly recommended to appreciate this spectacular and extremely rare offering.

Villa Esplanade:
An exciting opportunity to acquire the freehold to this substantial iconic building located on Scarborough's Esplanade with spectacular sea and coastal views as well as stunning views over Scarborough's South Bay to the Castle beyond. The property is only sold due to the current owner's retirement and the property has not been offered on the open market for over 45 years.

The Property:
This former hotel is currently run as 31 holiday rental apartments plus 4 letting rooms and two occupied commercial premises including ground floor restaurant with 80 covers and newly refurbished basement bar (lease information available on request). The two commercial units benefit from a shared sun terrace with stunning views. The holiday apartments are laid out over four floors and mostly offer a kitchen and bathroom and some have a separate bedroom and lounge with some being combined. There is also a commercial laundry room in the basement. A full plan of the layout of the apartments with measurements is available upon request. Outside the apartments also benefit from a communal car park with approximately 10 spaces. The property can be purchased as a going concern and offers any prospective purchaser an excellent income and return on investment (accounts available upon request) plus alongside the predicted trend in British holidays, further growth from the holiday units is expected over the coming years. The building could also be of interest to builders/developers looking to convert the property into luxury residential apartments (subject to obtaining relevant permissions) or possibly a national chain looking to rival or add to the already popular Premier Inn, Travel Lodge and Britannia Hotel accommodation within the town.

Location:
Being located on the elegant Esplanade, the property is well placed centrally to a wealth of amenities and attractions including Ramshill shopping parade, the train station, The Spa conference centre and entertainment venue, Italian Gardens as well as Scarborough's town centre, South Bay and the beach.

Letting Bedrooms:
There are 31 holiday flats and 4 letting rooms to sleep up to 102 guests. All have en-suite facilities, central heating and televisions with some of the rooms benefiting from superb sea views.

Services and Rates:
All mains services are connected. Prospective purchasers are advised to make their own enquiries with regard to these. Villa Esplanade has been assessed for business rates as follows:2010 RV - £40,7502017 RV - £69,000

Contact:
For any additional information regarding this property please contact the agents:Sanderson WeatherallNeil Bestwick .ukCPH Property ServicesJoe Walker

VAT:
VAT, if applicable, will be charged at the prevailing rate.

Marketed by:

CPH Property Services

Tel: 01723 266894

Arrange Viewing

Local Information:

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Thinking of buying this property as an investment?

Thinking of buying this property as an investment?
Do you need finance to purchase this property? Call now on 020 7519 4950 to discuss your finance requirements or get a finance quote.

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