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Back Oriel Crescent, Scarborough

Yorkshire

£275,000

Listed on 25/06/2023

Property details

Bedrooms

Type

Cottage

Description

This property presents a significant development opportunity, featuring granted planning permission for the transformation of existing coach house storage and garage units into three two-bedroom cottages. Located on the desirable South Cliff area of town, this project is poised for investment potential, appealing to both residential buyers and rental markets. The conversion work allows for creative design choices while enhancing the property value in this popular location.

Investment analysis

(YO11 area)

Area Average

£206/sq ft

Avg Rent (weekly)

£151

Avg Yield

3.9%

Renovation Potential

Medium Refurb

Est. Renovation Cost

£75,000 - £100,000

Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.

Monthly Sales

Average per month

Market Turnover

Properties sold annually

Local Market Trend (YO11)

Area prices are falling by -4.7% over the last 12 months

3 year growth: -6.9%

5 year growth: +6.2%

Investment Disclaimer: Analysis based on YO11 area averages and may not reflect property-specific factors like condition, exact location, or unique features. Any renovation cost estimates provided are AI-generated and should be considered indicative only. Renovation costs vary significantly based on property condition and scope of work. Always conduct professional surveys and get multiple quotes before making investment decisions.

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Location

Back Oriel Crescent, Scarborough

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Mortgage calculator

Property Price

Household Income

Deposit

Deposit %

Interest Rate

Repayment Period

years

Current average 2-year fixed rate is 4.45%

Current average variable rate is 6.60%

Monthly Repayments

£1,039

Based on a loan of £206,250 over 30 years at 4.45% interest

These results are estimates and are only intended as a guide. Make sure you obtain accurate figures from your lender before committing to any mortgage. Your home may be repossessed if you do not keep up repayments on a mortgage.