62C Pasture Street, Grimsby, DN32 9AB

Description

An end of terrace property of traditional construction offered for sale with the benefit of vacant possession, yet with significant scope to add value in a high rental demand area. Any redevelopment would be subject to the necessary planning consents being granted.

Accommodation

Over two floors with gross internal floor area of approximately 33.02 sq. meters.

Location

Situated on Pasture Street, a popular and central residential area of Grimsby, near the town centre with a wide range of facilities and amenities. The town has public transport links and access to the M180 motorway network, with further access to Hull, Sheffield, Leeds and Doncaster.

Tenure / Property Information

Investment Analysis

The supplied sold evidence indicates a broad current commercial value range of approximately £15,000–£23,000: the subject sold for £15,000 in October 2023, while nearby Pasture Street sales were £22,000 in July 2026 and £23,000 in May 2025. A base value of £22,000 is used as an evidence-led market-value proxy, not a formal GDV, because the comparables are recorded only as “Other” and the property's condition, planning position and intended future use are unknown.

Investment Snapshot

Strategy Recommendation

Proceed only after reviewing the legal pack, confirming permitted use and planning potential, obtaining a condition-based works quotation and clarifying all buyer and administration costs. On the current evidence, avoid bidding on a redevelopment or flip basis.

Works Required

No specific defects or works are evidenced. The description identifies scope for possible redevelopment, but any works would require appropriate planning consent. A refurbishment budget cannot be supported from the supplied evidence.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £22,000 base value proxy, 75% refinance would be approximately £16,500. BRRR viability cannot be established because refurbishment costs, planning requirements, finance costs, buyer premium and other purchase costs are unknown. The refinance figure is an indicative calculation only, not a lending valuation.

Buy-to-Let Analysis

The auctioneer indicates current area rents reaching up to £600 pcm, equivalent to £7,200 annually and a theoretical 48% gross yield against the £15,000 upper guide. However, this is an auctioneer estimate rather than achieved rent, no sufficiently specific rental comparable is available, and the property's commercial classification and future use are not confirmed. A dependable BTL yield cannot therefore be established.

Flip Analysis

A resale value range of £15,000–£23,000 is supported by the supplied sales, with £22,000 used as the base case. Flip surplus cannot be calculated because no supported works allowance, buyer premium, full acquisition costs or selling allowance is available. Potential redevelopment is also subject to planning consent.

Investor Risks & Due Diligence

• Any redevelopment is subject to necessary planning consents.

• The property is described as commercial, and its future use and rental suitability are not confirmed.

• No condition survey or quantified refurbishment estimate is supplied.

• The £600 pcm figure is an auctioneer estimate and no sufficiently specific external rental comparable is available.

• Buyer premium is unspecified and additional disbursements, searches, legal fees and transfer fees may apply.

• The supplied comparable sales may not be fully comparable because they are recorded only as “Other” and no accommodation or condition details are provided.

Recommendation

Proceed only after reviewing the legal pack, confirming permitted use and planning potential, obtaining a condition-based works quotation and clarifying all buyer and administration costs. On the current evidence, avoid bidding on a redevelopment or flip basis.

Strategy Rating

Analysis Confidence

There are several relevant completed sales and a stated auctioneer rent estimate, but the comparables are categorised only as “Other”; condition, planning, EPC, services, use, works costs, rent evidence and total auction fees are incomplete.