Chance to buy contemporary apartments in Whitby as a home and or holiday lets

He thought it would be better if something contemporary was built on the land and acted on his hunch by buying the plot and seeking planning permission for a small apartment block featuring three flats, with one on the ground floor, one in the middle and another on the top floor.

“It was a complete step in the dark for me as I had never done anything like it before,” says Stuart, who sought help and advice from his friend Mike Forster, a Chartered Surveyor and property consultant who helped with the planning, design and construction.

The smart, redbrick apartments, which sit opposite Pannett Park, were completed and signed off by building regulations in 2019, just in time for pandemic rush on holidays in Britain.

Stuart has used all three flats as holiday lets booked through Sykes and they have proved very popular, thanks to their design and because they come with parking, which can be an issue in Whitby.

The gross yield on the properties is £90,000 per year and the whole block is freehold. If the apartments are bought separately, the lease on each would be virtual freehold at 999 years and Stuart says: “It offers flexibility as you could let all three out or live in one of the flats and let the others to holiday makers or they can be sold to individual purchasers.”

The ground floor apartment comes at a premium and is £350,000 as it has a double garage with parking for four cars and a garden. It also has a balcony overlooking Pannett Park and a private sun terrace to the rear. Inside, there is an open plan living space with a sitting area and kitchen.

There is a separate utility room with fitted cabinets and integrated appliances, including a washing machine and dryer. At the rear of the apartment there are two double bedrooms, an en-suite shower room and a bathroom.

The middle apartment and the top floor apartment are on the market at £325,000 each. There is a communal entrance on the ground floor with a stairwell to the upper floors.

The flats have the same layout, which includes an open plan living space with kitchen and a sitting area leading out onto the balcony at the front. There is a separate utility room with washing machine and dryer and there are two double bedrooms, a bathroom and a shower room.

Both bedrooms have glazed doors that lead out onto a private balcony. These two upper flats come with a dedicated parking space for one vehicle and all the apartments have underfloor heating.

For details contact Hope and Braim Estate Agents, Whitby, www.hopeandbraimestateagents.co.uk.