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Mar 2012:

http://www.thescarboroughnews.co.uk/news/business/guests-distraught-over-selling-hotel-1-4299920

'ANOTHER Scarborough hotel is on the market as the owners of the Raincliffe Hotel put the business up for sale.

After nearly eight years running the guest house in Valley Road, owners Malcolm and Katherine Harper are selling up.

The business, which includes 14 ensuite letting rooms and recorded a profit of £89,337 in 2010/11, is on the market with an asking price of £550,000.'

Jan 2016:

http://www.rightmove.co.uk/commercial-property-for-sale/property-39113223.html?premiumA=true

OIRO 470K

'Situated in the attractive Valley Road Conservation Area close to the town centre and within easy walking distance of the beach, Spa complex, Rotunda Museum and the Art Gallery, the Raincliffe is a very well located guest house set amidst sought after imposing mainly residential properties on the popular south side of Scarborough. Following continued substantial investment by the owners the facilities are very well presented and this superb business drawing discerning commercial and tourist clientele has developed into a highly profitable venture. Owners also enjoy the marvellous benefit of a purpose built ground floor flat and, of course, the advantage of living and working in a beautiful resort.

Scarborough is a tremendously popular resort with a huge range of natural attractions, sights and activities. There are two lovely bays either side of a castle on a prominent headland, colourful harbour, bustling seafront with amusements and entertainment, golden sands, good surfing, award winning gardens, top class golf courses and the advantage of the North York Moors National Park on the doorstep. The Raincliffe is well located for access to all the major attractions and in particular those of the South Bay and town centre which include the wonderful Spa complex with its summer shows and conference facilities. Scarborough is a large town which generates commercial bedroom trade throughout the year and the Raincliffe is close to the new Coventry University Scarborough campus which opens in September 2016 and new sports village.

The current owners acquired the Raincliffe in March 2004 and have improved and extended the property whilst developing a highly profitable year round business. Works have included the creation of additional larger letting bedrooms, en suite facilities and owner’s flat, new central heating boilers, new hot water cylinder, electrical rewiring, new fire alarm system, complete roof renewal, a new kitchen, and replacement of most of the windows with new double glazing. Now, the decision to sell gives buyers a marvellous opportunity to acquire a superb business where the hard work has been done and all is in place for continued high profits.'

Its a shame I cannot find out what they paid.
It seems to have aquired an extra bed room in 4 years, or maybe even the EAs in scabby top out at 12 fingers.
And the question I always ask - Why sell if its profitable?
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Mar 2012:

http://www.thescarboroughnews.co.uk/news/business/guests-distraught-over-selling-hotel-1-4299920

'ANOTHER Scarborough hotel is on the market as the owners of the Raincliffe Hotel put the business up for sale.

After nearly eight years running the guest house in Valley Road, owners Malcolm and Katherine Harper are selling up.

The business, which includes 14 ensuite letting rooms and recorded a profit of £89,337 in 2010/11, is on the market with an asking price of £550,000.'

Jan 2016:

http://www.rightmove.co.uk/commercial-property-for-sale/property-39113223.html?premiumA=true

OIRO 470K

'Situated in the attractive Valley Road Conservation Area close to the town centre and within easy walking distance of the beach, Spa complex, Rotunda Museum and the Art Gallery, the Raincliffe is a very well located guest house set amidst sought after imposing mainly residential properties on the popular south side of Scarborough. Following continued substantial investment by the owners the facilities are very well presented and this superb business drawing discerning commercial and tourist clientele has developed into a highly profitable venture. Owners also enjoy the marvellous benefit of a purpose built ground floor flat and, of course, the advantage of living and working in a beautiful resort.

Scarborough is a tremendously popular resort with a huge range of natural attractions, sights and activities. There are two lovely bays either side of a castle on a prominent headland, colourful harbour, bustling seafront with amusements and entertainment, golden sands, good surfing, award winning gardens, top class golf courses and the advantage of the North York Moors National Park on the doorstep. The Raincliffe is well located for access to all the major attractions and in particular those of the South Bay and town centre which include the wonderful Spa complex with its summer shows and conference facilities. Scarborough is a large town which generates commercial bedroom trade throughout the year and the Raincliffe is close to the new Coventry University Scarborough campus which opens in September 2016 and new sports village.

The current owners acquired the Raincliffe in March 2004 and have improved and extended the property whilst developing a highly profitable year round business. Works have included the creation of additional larger letting bedrooms, en suite facilities and owner’s flat, new central heating boilers, new hot water cylinder, electrical rewiring, new fire alarm system, complete roof renewal, a new kitchen, and replacement of most of the windows with new double glazing. Now, the decision to sell gives buyers a marvellous opportunity to acquire a superb business where the hard work has been done and all is in place for continued high profits.'

Its a shame I cannot find out what they paid.
It seems to have aquired an extra bed room in 4 years, or maybe even the EAs in scabby top out at 12 fingers.
And the question I always ask - Why sell if its profitable?

Yup that's the question i thought the 2009> vintage BTL ers would have asked themselves when buy from the prior BTLer who bought for less

A paid for land reg search will provide the last sale price (if more than just curiosity)? https://eservices.landregistry.gov.uk/www/wps/portal/!ut/p/b1/04_Sj9CPykssy0xPLMnMz0vMAfGjzOKNjSxMDA1NjDwsjM3MDTxN3dyNDUNMjQ1MjPWDU_P0C7IdFQG9k5Tz/

  • a title register where you can find out who owns the property, price paid/value stated information if sold since April 2000 and any rights of way or restrictions on the land noted on the register for only £3 (view title register example new_window.gif)
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  • 1 year later...
  • 9 months later...
2 hours ago, spyguy said:

Its did sell. Eventually.

08/11/2017  £412,500  21 Valley Road, Scarborough, YO11 2LY

5 years to sell. ~150k off asking.

 

On another thread, back in January, I wrote - "As you say, this one failed to sell for £360,000 back in 2013/4 (as did all the others on your list), despite having been reduced from £450,000. It returns to the market for....£360,000."

 

Six months on it's still there.

So, if five years is the time it takes to sell an overpriced place in sunny Scarborough, they've still got some waiting to do...

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2 minutes ago, Shrink Proof said:

On another thread, back in January, I wrote - "As you say, this one failed to sell for £360,000 back in 2013/4 (as did all the others on your list), despite having been reduced from £450,000. It returns to the market for....£360,000."

 

Six months on it's still there.

So, if five years is the time it takes to sell an overpriced place in sunny Scarborough, they've still got some waiting to do...

https://houseprices.io/?q=+Vernon+Road%2C+Scarborough

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  • 9 months later...
On 26/07/2018 at 13:05, Shrink Proof said:

On another thread, back in January, I wrote - "As you say, this one failed to sell for £360,000 back in 2013/4 (as did all the others on your list), despite having been reduced from £450,000. It returns to the market for....£360,000."

 

Six months on it's still there.

So, if five years is the time it takes to sell an overpriced place in sunny Scarborough, they've still got some waiting to do...

Now down to offers in excess of £300,000. So far it's dropped by £150,000.

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13 hours ago, Shrink Proof said:

Now down to offers in excess of £300,000. So far it's dropped by £150,000.

Oh  theres some real comedy houses on the market thesedays.

More laughs than the has been and never were comics doing summer shows down the Spa

https://www.rightmove.co.uk/property-for-sale/property-75052163.html

This one started at 3m.

You really needto see where theyve built it, to appreciate the comedy.

Its hard to get an idea of what they paid for the house.

Its a funny house

https://media.rightmove.co.uk/129k/128725/63818038/128725_SCSAL99296704_DOC_04_0000.pdf

The EA is sooo exclusive theyve got the post code wrong in the blurb.

I guess it was 4-6

14/02/2017 £95,000 6, Park Lodge, Vernon Road, Scarborough, YO11 2PT
19/07/2010 £82,500 1, Park Lodge, Vernon Road, Scarborough, YO11 2PT
28/09/2007 £141,500 7, Park Lodge, Vernon Road, Scarborough, YO11 2PT
11/11/2005 £127,000 7, Park Lodge, Vernon Road, Scarborough, YO11 2PT
29/08/2003 £240,000 4 - 6, Vernon Road, Scarborough, YO11 2NH
28/07/2003 £75,000 7, Park Lodge, Vernon Road, Scarborough, YO11 2PT
06/10/1998 £42,000 1, Park Lodge, Vernon Road, Scarborough, YO11 2PT
24/07/1998 £54,000 2, Park Lodge, Vernon Road, Scarborough, YO11 2PT
12/01/1996 £35,000 5, Park Lodge, Vernon Road, Scarborough, YO11 2PT

 

 

 

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29 minutes ago, spyguy said:

Oh  there's some real comedy houses on the market these days.

More laughs than the has been and never were comics doing summer shows down the Spa

https://www.rightmove.co.uk/property-for-sale/property-75052163.html

This one started at 3m.

You really need to see where they've built it, to appreciate the comedy.

     
     
     
     
     
     
     
     
     

I saw that. But if I had £2.5 million to spend (fat chance...) or worse, the £3 million they started off at, I definitely wouldn't be spending it there. A totally impractical Grand Designs parody slotted in between 1950s houses on a street that's a notorious rat run. With the bonus of the A64 at the bottom of the garden, varying from constant roaring traffic to total gridlock in the summer season - at Bank Holidays it's the main access road to Scarborough and is basically a linear car park.

No-one in Scarborough has anything like that sort of money and any incomer with the necessary cash will immediately figure out that they can do miles better somewhere else. Awful, awful, awful.

Edited by Shrink Proof
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6 minutes ago, Shrink Proof said:

I saw that. But if I had £2.5 million to spend (fat chance...) or worse, the £3 million they started off at, I definitely wouldn't be spending it there. A totally impractical Grand Designs parody slotted in between 1950s houses on a street that's a notorious rat run. With the bonus of the A64 at the bottom of the garden, varying from constant roaring traffic to total gridlock in the summer season - at Bank Holidays it's the main access road to Scarborough and is basically a linear car park.

No-one in Scarborough has anything like that sort of money and any incomer with the necessary cash will immediately figure out that they can do miles better somewhere else. Awful, awful, awful.

Indeed.

For 3.5m you could buy all of the following:

https://www.onthemarket.com/details/6786537/?utm_source=home_co_uk&utm_medium=cpc&utm_campaign=home_feed

https://www.onthemarket.com/details/6740061/?utm_source=home_co_uk&utm_medium=cpc&utm_campaign=home_feed

https://www.onthemarket.com/details/5359976/?utm_source=home_co_uk&utm_medium=cpc&utm_campaign=home_feed

https://www.guildproperty.co.uk/property-for-sale/burniston/yo13-0hp/1306998

And still have money left to refurb all of them.

 

 

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  • 4 months later...
On 26/05/2019 at 07:29, spyguy said:

Its a funny house

https://media.rightmove.co.uk/129k/128725/63818038/128725_SCSAL99296704_DOC_04_0000.pdf

The EA is sooo exclusive they've got the post code wrong in the blurb.

It sold!!

It only took them eight years to find a buyer!

Oh, and a 35% drop in the original asking price (from £450,000 to £292,000)....

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7 hours ago, Shrink Proof said:

It sold!!

It only took them eight years to find a buyer!

Oh, and a 35% drop in the original asking price (from £450,000 to £292,000)....

Lets assume 50% finance, so about 200k.

8 years at 3% (assuming oo mortage rather than commercial loan)  6k x 8 = 48k deserving.

Oouch.

I bet theyve took a large loss.

 

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17 hours ago, Shrink Proof said:

It sold!!

It only took them eight years to find a buyer!

Oh, and a 35% drop in the original asking price (from £450,000 to £292,000)....

Or the original owners/developer died and the place was sold in probate.

 

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