Latest Valuation
£70,000
ROCE
22%
Location
Grimsby

Off-Market BTL – 8.12% Yield

Benefit from instant income, good yield in an area undergoing serious re-generation which should lead to capital appreciation.
Guide Price
£65,000

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Key Features

  • Off-market - tenanted BTL
  • Immediate cash flow
  • Re-generation area

The Property

A tenanted 2-bed 1st floor flat, in Grimsby. The area and town centre is undergoing a large scheme of regeneration. Including £57,000,000 private investment in a huge redevelopment of the former Pleasure Island site which will include a 146-bedroom hotel and conference area, 250 holiday lodges, 2 restaurants, a shopping plaza, a Lidl supermarket, a petrol station, and a drive thru coffee shop.

In addition to this there is the £18,000,000 regeneration of the town centre with a brand new cinema added to Freshney Place, a new market hall, shops, and restaurants, as well as a brand new square for shoppers to enjoy.

Also currently underway is the Garth Lane and Riverhead project. The Garth Lane project will be developed as part of the £88,000,000 Town Deal, and see a university campus and student accommodation being developed on the site.

All this and more going on will surely lead to jobs and demand for property in the area which should lead to capital appreciation.

Purchase price: £65000
Tenanted at £440 pcm
Gross yield: 8.12%
Discounted sourcing fee of only £2,500

An ideal addition to any buy to let portfolio, high yielding and cash flowing from day 1 with great potential for capital gain.

Selling office: Sourced Rochdale

Planning Information

N/A

The Plan

Add to portfolio to benefit from immediate cash flow and long term capital gains.

The Location

Grimsby is a town in North Lincolnshire. As mentioned above the town centre is undergoing a large scheme of regeneration.

Including £57,000,000 private investment in a huge redevelopment of the former Pleasure Island site which will include a 146-bedroom hotel and conference area, 250 holiday lodges, two restaurants, a shopping plaza, a Lidl supermarket, a petrol station, and a drive thru coffee shop.

In addition to this there is the £18,000,000 regeneration of the town centre with a brand new cinema added to Freshney Place, a new market hall, shops, and restaurants, as well as a brand new square for shoppers to enjoy.

Also currently underway is the Garth Lane and Riverhead project. The Garth Lane project will be developed as part of the £88,000,000 Town Deal, and see a university campus and student accommodation being developed on the site

Average estimated value for a house in DN32 9QD

£

Properties in DN32 9QD had an overall average price of £65,000 over the last year.

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