130 and 130A Brereton Avenue, Cleethorpes

Description

Two leasehold flats forming part of an end terrace building: two bedroom ground floor flat and a two bedroom first floor flat. Each flat benefits from its own access. Conveniently located for the local amenities of Cleethorpes. Vacant. EPC rating - D.

Accommodation

Ground Floor flat: Lounge - 4.83m x 3.97m; Kitchen - 3.15m x 3.26m; Bathroom - 3.7m x 3.15m; Bedroom - 2.32m x 2.88m; Bedroom 2 - 4.28m x 3.63m. First Floor flat: Lounge - 4.84m x 3.64m; Bedroom 1 - 3.09m x 4.00m; Bathroom - 2.44m x 1.80m; Bedroom 2 - 2.41m x 2.98m; Kitchen - 3.31m x 3.01m.

Location

Cleethorpes is a seaside town on the estuary of the Humber in North East Lincolnshire. Brereton Avenue can be accessed via Park Street, Oxford Street and Park View. All the usual local amenities can be located in Cleethorpes, with a broader range of amenities available in Grimsby centre. Recreational amenities including Cleethorpes Leisure Centre, Sidney Park, Cleethorpes Country Park and Weelsby Woods are all easily accessible. Transport: Cleethorpes - EMR, Northern, TransPennine Express.

Tenure / Property Information

Investment Analysis

The strongest evidence is the leasehold flat sale at 130B Brereton Avenue for £36,000 on 10 June 2025. Applying that as an indicative per-flat reference to the two subject flats suggests a base GDV of approximately £72,000, with a broad evidence-led range of £60,000–£84,000. This is not a formal valuation: only one recent local comparable is reasonably relevant, while the other supplied sales are historic and refer to a different address.

Investment Snapshot

Strategy Recommendation

Proceed only as a highly diligence-dependent purchase. The guide is below the indicative two-flat comparable-based GDV, but the lack of rent, condition, lease and fee information prevents a reliable investment or bidding case.

Works Required

No specific works are evidenced. Confirm condition, statutory compliance, utilities, EPC requirements and any required repairs through inspection and the legal pack before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the indicative £72,000 base GDV, 75% refinancing equates to approximately £54,000. A complete BRRR analysis cannot be calculated because refurbishment costs, buyer or administration fees, rent and lease details are unavailable.

Buy-to-Let Analysis

The two flats are vacant and comprise two bedrooms each, but no sufficiently specific rental evidence or auctioneer rent estimate is supplied. Rental income and gross yield therefore cannot be established. Lease terms, condition and operating costs also require confirmation.

Flip Analysis

The indicative base GDV is approximately £72,000, compared with the £45,000 guide price, but refurbishment costs, acquisition charges and selling costs are unsupported. A reliable flip surplus and maximum bid cannot therefore be calculated.

Investor Risks & Due Diligence

• Lease terms and associated obligations are unknown and must be reviewed in the legal pack.

• No reliable rent evidence is supplied, so income and yield cannot be assessed.

• The condition and refurbishment requirement of both flats are not evidenced.

• Buyer, administration and other auction costs are not supplied.

• The GDV estimate is extrapolated from one recent comparable rather than supported by sales of both flats.

• Council tax, parking and heating information is not supplied.

Recommendation

Proceed only as a highly diligence-dependent purchase. The guide is below the indicative two-flat comparable-based GDV, but the lack of rent, condition, lease and fee information prevents a reliable investment or bidding case.

Strategy Rating

Analysis Confidence

There is one reasonably relevant recent local leasehold flat sale, but no rental evidence, condition assessment, lease details, buyer fees, administration fees or refurbishment cost information.