£179,950
Est. Mortgage £901 per month*
Studio flat for sale
Lincolnshire, DN35
studio Flat Property description
ATTENTION INVESTORS.
A great opportunity has arisen to purchase this part-let investment property, situated in a prominent position on Grimsby Road. The property comprises a Ground floor retail unit with three additional one bed flats, achieving a combined rent of £13,900 Per Annum, equating to a gross initial yield of 7.12%.
The ground floor retail unit features a main retail area, office and workshop space, W.C and kitchenette, which is approximately 49sqm /528 sqft. There are three flats included, one of which has a separate rear access and the other two have shared access from the front elevation and are above the retail unit.
We understand that the two out of the three residential flats are currently tenanted on AST’s, with the vacant undergoing planning to be changed from a commercial dwelling, back to a residential. The Ground floor retail unit is tenanted on a three-year lease agreement, which commenced on 2nd November 2024 and is achieving £5,200 Per Annum.
The property is strategically situated on Grimsby Road (A180), linking Grimsby and Cleethorpes, and provides easy access out of town via the M180. This property presents a secure, long-term investment opportunity, offering both commercial and residential income streams in a highly sought-after location. Contact us today to learn more or schedule a viewing.
A great opportunity has arisen to purchase this part-let investment property, situated in a prominent position on Grimsby Road. The property comprises a Ground floor retail unit with three additional one bed flats, achieving a combined rent of £13,900 Per Annum, equating to a gross initial yield of 7.12%.
The ground floor retail unit features a main retail area, office and workshop space, W.C and kitchenette, which is approximately 49sqm /528 sqft. There are three flats included, one of which has a separate rear access and the other two have shared access from the front elevation and are above the retail unit.
We understand that the two out of the three residential flats are currently tenanted on AST’s, with the vacant undergoing planning to be changed from a commercial dwelling, back to a residential. The Ground floor retail unit is tenanted on a three-year lease agreement, which commenced on 2nd November 2024 and is achieving £5,200 Per Annum.
The property is strategically situated on Grimsby Road (A180), linking Grimsby and Cleethorpes, and provides easy access out of town via the M180. This property presents a secure, long-term investment opportunity, offering both commercial and residential income streams in a highly sought-after location. Contact us today to learn more or schedule a viewing.
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First listed
Over a month agoEnergy Performance Certificate
Lincolnshire, DN35
Marketed by
Jackson Green and Preston Estate Agents and Property Management - Grimsby 19 West St. Mary's Gate Grimsby DN31 1LECall agent on 01472 467885
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Monthly repayment
Based on a 25 year mortgage, with a 10% deposit and a 4.50% interest rate.
Lincolnshire, DN35 - Streetview
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