Victoria Road, Scarborough, North Yorkshire

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Located at 152 Victoria Road in Scarborough, YO11 1SX, this mixed-use property combines a 5-bedroom HMO with a ground floor commercial shop, making it a diverse investment opportunity. The property has been extensively refurbished to a high standard, featuring modern finishes, four bathrooms (including two en-suites), a large communal kitchen/diner, and a living space. The ground floor hosts a profitable shop currently leased to a reputable local business, contributing significantly to the annual gross income of £40,980.

The property is ideally situated with excellent access to local amenities such as shops, cafes, and a Tesco Superstore, all within walking distance. It is close to education facilities and healthcare services, enhancing tenant convenience, and is just a short distance from Scarborough Beach and local social venues, adding to its appeal. Transport links are robust, with Scarborough Train Station only a 3-minute walk away, providing excellent connectivity, alongside well-connected local roads and readily available bus services.

The property benefits from high-speed broadband and excellent mobile coverage, which supports both residential and commercial operations. It attracts a mix of professional tenants and local business employees, driven by its prime location and modern amenities. Room rates are competitive, ranging from £525 to £575 PCM for residential spaces, with the shop renting at £700 PCM.

Scarborough’s development as a commercial and tourist hub underscores the property’s potential for rental and capital appreciation. The property is currently self-managed, offering potential for continued professional management. It features modern security systems for a safe living and working environment. Financially, the property boasts an impressive gross yield of 13.01% and a strong net yield after expenses, with a total monthly expenditure of £603.13, ensuring efficient cost management and maximized net returns.

Investing in Scarborough presents a compelling opportunity for property investors, combining the town's robust local economy with its appeal as a popular coastal destination. Known for its scenic landscapes and vibrant tourism industry, Scarborough is not only a hub for holidaymakers but also offers a thriving environment for businesses and residents alike.

Tourism and Local Economy: Scarborough is a renowned tourist destination, attracting visitors with its historic castle, beautiful beaches, and lively cultural scene. This steady influx of tourists supports local businesses, including retail, hospitality, and leisure services, contributing significantly to the town’s economy. A property such as the mixed-use HMO at 152 Victoria Road, which includes commercial premises, benefits directly from this vibrant economic activity, offering potential high rental yields driven by consistent demand.

Growing Residential Market: Aside from tourism, Scarborough is experiencing growth in its residential market, driven by its affordability compared to major urban centres. The area’s appeal to both younger professionals and retirees looking for a picturesque yet practical place to live enhances the demand for residential rental properties. The HMO aspect of 152 Victoria Road capitalizes on this demand by offering high-standard living accommodations in a central location.

Excellent Transport Links: The town is well-connected by train and bus services, providing easy access to major cities such as Leeds, York, and Manchester. Scarborough Train Station, just a short walk from Victoria Road, enhances the property’s attractiveness to commuters and increases its rental appeal to professionals working in or out of the town.

Local Amenities and Lifestyle: With its proximity to an array of local amenities, including shops, cafes, parks, and the beach, properties in Scarborough are particularly appealing. The commercial space included in the 152 Victoria Road property benefits from high foot traffic and visibility, ideal for businesses catering to both residents and tourists.

Why Invest in 152 Victoria Road: This property combines the stability and demand of a residential HMO with the income potential of a commercial lease in a prime location. With significant upgrades and a high occupancy rate, it offers an immediate return on investment. The diverse tenant base, combined with Scarborough’s economic resilience and lifestyle appeal, makes this property a solid choice for investors looking to expand their portfolio in a dynamic market.

Investing in Scarborough, especially at a location like 152 Victoria Road, provides a balanced mix of immediate returns and long-term growth potential, driven by the area's economic fundamentals and its ongoing popularity as a destination to live, work, and play.