6 Pyewipe Bungalows, Grimsby

Description

A wonderful opportunity to acquire this ‘quarter house’ bungalow, offering scope for both the investment and development market. The property offers potential to add value and is in an area of high rental demand. Offering the opportunity for redevelopment or reconfiguration. Internal viewing to appreciate the size and scope highly recommended.

Accommodation

Ground Floor: Entrance Hallway; Lounge; Kitchen; Bedroom 1; Bedroom 2; Family Bathroom. First Floor: Store / Potential redevelopment space. Outside: Gardens.

Location

The property is conveniently located just off the popular and central Pyewipe Road, 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

The evidence does not support a reliable current GDV. Historic same-site sales range from £40,000 to £70,000, including this property at £67,000 in 2005 and another unit at £55,000 in 2019, but these are dated and do not establish current value. The £65,000 guide is therefore not independently validated.

Investment Snapshot

Strategy Recommendation

Do not bid on financial assumptions alone. Proceed only after internal inspection and legal-pack review confirm condition, redevelopment potential, permissions and all purchaser disbursements.

Works Required

Internal viewing and the legal pack are essential. The description supports investigating reconfiguration and potential use of the first-floor store/redevelopment space, but no specific defects or construction works are evidenced.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR cannot be reliably assessed without a current GDV, refurbishment budget, achievable rent and confirmation that the potential reconfiguration is viable.

Buy-to-Let Analysis

BTL viability cannot be established because no sufficiently specific rental comparable or auctioneer rent estimate is supplied. The £65,000 guide plus £3,660 known buyer and administration charges excludes works, disbursements and finance costs.

Flip Analysis

A flip appraisal cannot be calculated because current resale value, works costs and selling costs are unsupported. Historic comparables are insufficient for a current GDV.

Investor Risks & Due Diligence

• Unknown internal condition and refurbishment scope.

• Potential reconfiguration or redevelopment is unconfirmed and may require permissions or approvals.

• No sufficiently specific rental evidence is available.

• Legal-pack disbursements and lease information remain to be reviewed.

• Historic comparables may not reflect current market value.

Recommendation

Do not bid on financial assumptions alone. Proceed only after internal inspection and legal-pack review confirm condition, redevelopment potential, permissions and all purchaser disbursements.

Strategy Rating

Analysis Confidence

No current valuation, rental evidence, refurbishment budget, internal inspection details, parking/heating information or complete legal-pack costs are supplied; the comparables are historic.