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Grimsby - Freehold Detached House with Re-Development Opportunity

For sale: £260,000.00|1,614 Sq Ft|Flat, House, Residential Land, Mixed Use, Other, Residential, Other Property Types & Opportunities

Property details

FOR SALE£260,000.00
SIZE1,614 Sq Ft
ADDRESS118 Weelsby Road, Grimsby, Lincolnshire, DN32 0PU
TYPEFlat, House, Residential Land, Mixed Use, Other, Residential, Other Property Types & Opportunities
TENUREDevelopment Opportunity, Investment Opportunity, For Sale Freehold
POSTED ON10th November 2021

Description

Investment Consideration:
Gross Initial Yield: 4.08%
Rental Income: £10,620 p.a.
Comprises corner detached house arranged over ground and first floor
Property benefits from gas central heating and double glazing windows
Planning granted for development of 4 self-contained 1-bedroom flats
Located within 0.8 miles from Grimsby Town Rail Station

Property Description:
The property comprises corner detached house, arranged over ground and first floor and benefits from front and rear garden, gas central heating and double-glazed windows.
The property provides the following accommodation and dimensions:
Ground Floor: 2 Reception Rooms, Dining Room, Kitchen, WC
First Floor: 3 Double and 1 Single Bedroom, Bathroom/WC

Tenancy:
The property is at present let to an Individual for a term of 12 Months from 24th March 2021 at a current rent of £10,620 per annum. Deposit held of £1,106.25. Mutual option to determine at any time with minimum 2 months notice.

Development Opportunity:
Planning granted in July 2020 for change of use from a single dwelling to four self-contained 1-bedroom flats, with first floor extension to the rear, formation of new vehicular access, parking area, cycle storage and boundary treatments with various internal and external alterations.

The property would provide the following accommodation and dimensions:
Ground Floor: 75 sq m (807 sq ft)
Flat 1 - Kitchen/Living Room, Bedroom, Bathroom/WC 38 sq m (409 sq ft)
Flat 2 - Kitchen/Living Room, Bedroom, Bathroom/WC 37 sq m (398 sq ft)
First Floor: 75 sq m (807 sq ft)
Flat 3 - Kitchen/Living Room, Bedroom, Bathroom/WC 38 sq m (409 sq ft)
Flat 4 - Kitchen/Living Room, Bedroom, Bathroom/WC 37 sq m (398 sq ft)
Rear Garden: 4 Car Parking Spaces, Cycle Storage, Bin Storage

Location:
Grimsby, also Great Grimsby, is a port town and administrative centre of North East Lincolnshire, England, on the South Bank of the Humber Estuary close to the North Sea. Grimsby lies 15 miles (24 km) from the nearest motorway, the M180, which continues as A180 into the town and acts as a link with the national motorway network. The town is skirted by the A18, with the A46 passing through to provide a connection towards Lincoln, while the A16 links it to Louth and south and eastern Lincolnshire. Grimsby has rail links via Grimsby Town railway station and Grimsby Docks railway station. There is a level crossing in the centre of the town across Wellowgate. Trans Pennine Express provides direct trains to Manchester Airport via Doncaster and Sheffield.

Location

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Location: 118 Weelsby Road, Grimsby, Lincolnshire, DN32 0PU

Grimsby Town (0.8 miles)

New Clee (1.6 miles)

Grimsby Docks (2.1 miles)

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