181 Roberts Street, Grimsby, Lincolnshire DN32 8BU

Description

A wonderful opportunity to acquire this mid terrace house, offering huge scope for both the investment and development market. The property offers excellent scope to add value, and in this area of high rental demand, offers potential opportunity for redevelopment into HMO use subject to obtaining the appropriate consents with potential to generate in excess of £20,000 per annum, or between £7200 and £7800 per annum as a single let. Internal viewing to appreciate the size and scope highly recommended.

Accommodation

Ground Floor: Lounge through Dining Room; Breakfasting Room through Kitchen. First Floor: Bedroom 1; Bedroom 2; Bedroom 3; Family Bathroom. Outside: Rear garden.

Location

The property is conveniently located on the popular and central Roberts Street, Grimsby, giving excellent access to the town centre and its wide range of facilities and amenities. Grimsby itself is well located for access to the sea front, Cleethorpes and City of Hull, along with M180 road network.

Tenure / Property Information

Investment Analysis

Completed sales on Roberts Street range from £77,000 to £110,000, with £100,000 and £110,000 sales providing higher indicators. Condition and specification differences are not evidenced, so these are indicative only.

Investment Snapshot

Strategy Recommendation

Investigate as a single-let BTL at a disciplined purchase price. Do not rely on the HMO case without confirming planning, licensing, layout feasibility and costs.

Works Required

Internal viewing and survey are required. Potential value-add reconfiguration or HMO conversion is mentioned, but any works and required consents remain unconfirmed.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At a £100,000 indicative GDV, 75% refinance is £75,000. Total project cost cannot be calculated because refurbishment costs and any additional purchase disbursements are not evidenced.

Buy-to-Let Analysis

The auctioneer estimates single-let rent of £7,200–£7,800 annually (£600–£650 pcm), implying approximately 18.0%–19.5% gross yield on the £40,000 lower guide, before finance, maintenance, voids, management and other costs. Rental listings are inconsistent and advertised, not achieved rents.

Flip Analysis

Indicative comparable evidence supports a £77,000–£110,000 GDV range, but refurbishment costs, selling costs and condition are unknown, so flip surplus cannot be calculated reliably.

Investor Risks & Due Diligence

• Refurbishment scope and cost are unknown.

• HMO use is subject to appropriate consents and feasibility.

• Rental listings are advertised asking rents and conflict materially.

• Additional legal-pack disbursements and other charges may apply.

• Comparable sales vary from £77,000 to £110,000 and may differ in condition or specification.

Recommendation

Investigate as a single-let BTL at a disciplined purchase price. Do not rely on the HMO case without confirming planning, licensing, layout feasibility and costs.

Strategy Rating

Analysis Confidence

There is useful same-street sold-price and auctioneer rent evidence, but property condition, refurbishment costs, legal-pack disbursements and HMO feasibility are unconfirmed.