Former hotel in North Yorkshire with development potential brought to market for £1.25m

Villa Esplanade

A former hotel space in Scarborough, North Yorkshire, has been brought to market by Savills for a guide price of £1.25m.

The Grade-II listed Villa Esplanade, which is currently not trading, is situated above Mexican restaurant El Gringos and Ink Lounge Bar and comprises 31 self-catered apartments and four bedrooms.

The restaurant and bar generate a combined rental income of £40k per annum, while the hotel space offers ‘significant’ development opportunity subject to planning consent.

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Tom Cunningham, hotels director at Savills in Manchester, comments: “This elegant former hotel offers an excellent investment or development opportunity in a highly desirable and prominent location.  As such, we are anticipating strong market interest.” 

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Zoe Monk

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