Hope & Braim Estate Agents says ..

Property Oracle says ..

This property presents a unique opportunity in Whitby’s historic Old Town. The listing describes a mixed-use freehold property with retail space and a two-bedroom apartment over five floors. The upper floors appear to have recently undergone renovations, with a modern kitchen and bathroom visible in the provided images. The exposed wooden beams throughout add character and charm. However, a significant portion of the property, the basement, is in need of extensive renovation, presenting significant work for a potential buyer. The basement space shows exposed brickwork, concrete and requires significant investment. The location is excellent, within walking distance of amenities and the train station. However, the lack of outdoor space, reflective of the property’s town centre location, should be considered. The asking price needs further scrutiny. While the location is premium, the necessary investment in the basement could impact the overall return on investment. A detailed survey and evaluation of the retail space would be essential before a final assessment of the value for money is determined. The absence of accurate square footage data for nearby properties hinders a detailed price-per-square-foot analysis. This property is an attractive proposition for those looking for a renovation project in a prime location, but requires thorough due diligence before purchase. Potential buyers should budget significantly for basement redevelopment. The mixed-use aspect also needs careful investigation to ascertain the current and potential income this might generate.

Therefore, we give this property 5 / 10. *Disclaimer: This is our option and does constitute a recommendation or financial advice. Do your own research. *

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