Flat 4 Straun House, 129 Eleanor Street, Grimsby, South Humberside, DN32 8AL

Description

Leasehold split-level flat.

Accommodation

First floor: Two bedrooms, bathroom/wc. Ground floor: Reception room open plan to kitchen.

Location

The property is located on Eleanor Street. Shopping amenities can be found locally within Grimsby Town Centre. Public transport links are available at Grimsby Town Train Station to the west and Grimsby Docks Train Station to the north west, along with a network of local bus services serving the surrounding areas. The property is served by road links including the A16 to the west. Recreational pursuits can be found at Grant Thorold Park.

Tenure / Property Information

Investment Analysis

The strongest recent evidence is £39,999 for a leasehold flat at 129 Eleanor Street in August 2025, with another sale at £27,745 in July 2025. The records do not identify Flat 4 specifically, so valuation confidence is limited. A base GDV of £39,999 is used, with £27,745 as a low scenario. The £65,000 and £85,000 sales are historic and not relied upon as current value evidence.

Investment Snapshot

Strategy Recommendation

Do not bid solely on the current evidence. Obtain the leasehold charges, special conditions, seller fees, inspection information and rent evidence first; only consider the property if the price leaves a substantial margin for unknown costs.

Works Required

No specific defects or refurbishment requirements are evidenced. Allowance for works cannot be estimated without inspection or further particulars. Confirm condition, heating and parking before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £27,500 guide plus the known £1,800 contract documentation fee gives a minimum analysed cost of £29,300, excluding unknown seller fees, leasehold charges, finance, tax and works. At the £39,999 base GDV, 75% refinancing is approximately £29,999, leaving a nominal £699 surplus before those excluded costs. This is not sufficient evidence of a viable BRRR project.

Buy-to-Let Analysis

BTL analysis cannot be completed because no sufficiently specific rental evidence or auctioneer rent estimate is provided. The property is leasehold and annual service charge, ground rent and review terms are unknown, so net investment performance cannot be assessed.

Flip Analysis

At the base GDV of £39,999, the analysed minimum cost is £29,300 before works, selling costs, finance, tax and unknown seller fees, indicating £10,699 gross headroom before those items. No supported refurbishment budget or selling allowance is available, so a reliable flip surplus cannot be calculated.

Investor Risks & Due Diligence

• Recent comparable sales are not explicitly identified as Flat 4.

• No sufficiently specific rental evidence is available.

• Annual service charge, ground rent and review terms are unknown.

• Potential additional seller fees are not quantified.

• Property condition and any required works are not evidenced.

• Heating and parking arrangements are unknown.

• The leasehold title has 107 years remaining as of the auction date, but full lease terms have not been supplied.

Recommendation

Do not bid solely on the current evidence. Obtain the leasehold charges, special conditions, seller fees, inspection information and rent evidence first; only consider the property if the price leaves a substantial margin for unknown costs.

Strategy Rating

Analysis Confidence

Recent completed sales and the guide price are available, but the comparables are recorded only against the building address rather than Flat 4, while rent, condition, service charge, ground rent, heating, parking and possible seller fees are unknown.