Ground Floor, 25 Grafton Street, Grimsby DN32 7RW

Property Overview

Ground floor leasehold flat at 25 Grafton Street, Grimsby, DN32 7RW. The property is currently occupied by a tenant and is subject to an existing tenancy agreement. It benefits from uPVC double glazing, central heating and versatile accommodation. The supplied property description identifies the property as having one bedroom.

Accommodation

• Ground floor: Lounge, kitchen, bathroom, Bedroom 1 and Bedroom 2 / Second Lounge
• Outside: Garden
• EPC: Current Rating D
• Heating: Central heating
• Council Tax: North East Council – Band A

Location

Situated on Grafton Street in Grimsby, a central area of this north east Lincolnshire market and port town. Grimsby town centre is within close proximity, offering retail, leisure facilities and amenities. The town is well positioned for access to the M180 road network.

Tenure & Key Information

• Tenure: Leasehold
• Occupancy: Currently occupied by a tenant; subject to an existing tenancy agreement
• Parking: No information supplied
• Prospective bidders should satisfy themselves of the lease terms, ground rent and service charge, if applicable, by inspecting the legal pack.
• Interested parties should make their own enquiries with the relevant authorities regarding service availability. Services, apparatus and equipment have not been tested by Auction House and cannot be verified as being in working order.

Auction & Buyer Charges

• Auction date: 05 October 2026
• Auction time: 13:00
• Guide price: £15,000 - £30,000 plus fees
• Buyer premium: £1,440 including VAT, payable on exchange of contracts
• Administration charge: £1,440 including VAT, payable on exchange of contracts
• Known buyer premium and administration charges total £2,880 including VAT, payable on exchange.
• Disbursements: Please see the legal pack for any disbursements that may become payable by the purchaser on completion.

Investment Analysis

HB estimate only: the five supplied leasehold flat comparables in Hull range from £65,000 to £80,000 and average £75,300, but they are not in Grimsby and may not be directly comparable. On that limited evidence, estimated GDV/market value is £75,300.

• HB estimated rent range: £500–£550 pcm
• HB estimated gross yield range: 7.97%–8.76%
• HB estimated refurbishment: Not provided
• HB estimated maximum bid: Not provided

The yield figures use estimated or advertised rents and exclude purchase costs, charges, voids, management, maintenance and other expenses. The property is tenanted under an existing tenancy agreement.

Sold Comparables

Source: supplied HM Land Registry sold data. These leasehold flat/maisonette sales are in Hull rather than Grimsby and may not be directly comparable.

Rental Evidence

• Advertised rental evidence: £550 pcm for a one-bedroom flat/apartment on Ladysmith Road, DN32. Source: advertised asking rent.
• Auctioneer estimated rent: Market rents in the area are in excess of £500 pcm.

Asking and estimated rents are not achieved or passing rent.

Strategy & Risks

HB estimate only: treat the property as a tenanted income purchase. Verify the tenancy agreement, passing rent, deposit, arrears position, compliance documents, lease term, service charges and landlord liabilities before bidding. A maximum bid cannot be reliably calculated from the supplied evidence because tenancy terms, property condition, lease details and investment return requirements are not provided.

• The supplied sold comparables are in Hull rather than Grimsby, so the market value indication is weak.
• Existing tenancy terms, passing rent, arrears and possession position are not provided.
• Property condition and any refurbishment requirement are unknown.
• Lease length, ground rent, service charge and other lease liabilities are not provided.
• Gross yields use estimated or advertised rents and exclude purchase costs, charges, voids, management, maintenance and other expenses.
• Buyer premium and administration charge total £2,880 including VAT, payable on exchange.