2-7 Market Way, Scarborough, North Yorkshire YO11 1HR

A freehold commercial investment opportunity comprising 3 ground floor retail units with 3 flats situated on the upper floors. 3 & 7 Market Way, being two of the retail units, are sold with vacant possession; 5 Market Way is let out by way of a premium payment with a term running from 2002 to February 2113 and annual ground rent of £10. Flats 2 and 4 are sold by way of long leaseholds, which also expire in 2113 and detail an annual rent of £10 each; Flat 6 is sold off on a longer leasehold title with an annual ground rent of £1.

The property offers potential for the rental income to grow substa
ntially via letting of the vacant retail units and will appeal to local and national investors.
The property occupies a prominent position on Market Way in Scarborough town centre, close to St Thomas Street and Eastborough. The surrounding area comprises a mix of retail, leisure and commercial occupiers together with residential accommodation above ground-floor commercial units, generating consistent pedestrian footfall.

Scarborough is a popular North Yorkshire coastal town with a diverse economy centred around tourism, retail, education and healthcare. The property is within walking distance of Scarborough railway station, with regular services to York and beyond, while the A64 provides the principal road link to York, Leeds and the wider motorway network.

The Market Hall, Brunswick Shopping Centre and the seafront are all nearby, with the central location providing convenient access to local amenities and public transport.

Auction Details

The sale of this property will take place on the stated date by way of Multi lot timed auction and is being sold under the Unconditional sale type.

Binding contracts will be exchanged at the point of sale.

All sales are subject to our Common Auction Conditions and Bidder Terms. Properties located in Scotland and Northern Ireland will be subject to applicable local laws.

Auction Deposit and Fees

The following deposits and non-refundable auctioneers fees apply, and are payable immediately upon exchange of contracts:

• 10% deposit (subject to a minimum of £5,000)

• Buyer’s Fee of 1.8% inc. VAT of the purchase price (subject to a minimum of £2,400 inc. VAT)

There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. You must read the Legal Pack carefully before bidding.

Additional Information

For full details about our auction processes, please refer to the Bidder Terms which can be viewed on our home page.

This explains the types of auction and sale methods we offer, the bidding registration process, your payment obligations, and how to view the Legal Pack (and any applicable home report for residential Scottish properties).

Guide Price & Reserve Price

Each property sold is subject to a Reserve Price. The Reserve Price will be within + or - 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Buyers Terms.