2-bedroom flat · DN32 0RY
Listing removedListed 256 days
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
(WE ARE OFFERING PART ONLY OF THE PROPERTY SHOWN IN THE PHOTOGRAPH) Situated in the popular gated development of Wellowgate Mews, this upper floor 2-bedroom apartment is a fantastic investment opportunity.
Currently leased on an Assured Shorthold Tenancy (AST) agreement at £700 per month, this property offers an impressive rental yield of 8%.
The apartment features two bedrooms, an open-plan living area with a modern kitchen, and benefits from UPVC double glazing throughout.
The contemporary design and luxurious finishes make it an attractive rental prospect for tenants.
With its convenient location and strong rental return, this property presents a compelling investment opportunity for discerning buyers.
Don't miss out on this chance to enhance your investment portfolio. Contact us now to secure a viewing of this exceptional property in Wellowgate Mews. Extended lease upon completion.
Ground Floor Entrance Hall With stairs to second floor.
Second Floor Communal Landing Living Room/Kitchen 5.81m x 5.46m An open plan living/kitchen area having recessed spotlights to ceiling and fitted with a very smart range of kitchen units with integrated appliances.
Radiator. Laminate flooring and uPVC double glazed windows. Bedroom 1 4.69m x 2.86m With fitted wardrobes. Laminate flooring. Recessed spotlights. Radiator and uPVC double glazed window unit.
Bedroom 2 3.23m x 2.77m With laminate flooring. Recessed spotlights. Radiator and uPVC double glazed window unit.
Shower Room Tiled floor and having shower cubicle with glazed door and shower, hand basin set in vanity unit and a low-flush w.c. Recessed spotlights to ceiling. Heated towel rail.
Car Parking The property stands in a gated car park with a garage to the rear. Outbuildings Garage. Tenure The property will have the benefit of an extended lease upon completion.
The current lease is for a term of 99 years from 14th August 2002 with a ground rent of £50 per annum.
On completion there will be a new lease for a term of 189 years from 14th August 2002 at a peppercorn/nil ground rent.
Broadband & Mobile Phone Coverage Please use the following link to check the mobile phone and broadband coverage for this property.
Council Tax Band B This information was obtained on the 15th November 2024 and is for guidance purposes only.
Purchasers should be aware that the banding of the property could change if information is brought to light that makes it clear to the Valuation Office Agency that an error was made with the original allocation.
Additionally, there may be circumstances when the Council Tax can be altered on change of ownership. All interested parties are advised to make their own enquiries.
See Property Management Are you a Landlord tired of dealing with your tenants?….Jackson, Green and Preston can provide a comprehensive management service and will be delighted to discuss your management needs.
Please do not hesitate to contact our Property Management Department on Grimsby 311116 or by e-mail ( ) for some informal advice.
Further information is also available on our website at Property To Sell Do you have a property to sell? For professional valuation advice, contact our Grimsby Office ).
One of our experienced valuers will be happy to provide a free marketing appraisal of your property.
Surveys Should you decide to buy a property not available for sale through our Agency, Jackson Green and Preston offer a range of independent valuations and surveys all carried out by fully qualified Chartered Surveyors.
To discuss your survey needs, please contact our Survey Department on .
Sources Of Useful Information Purchasers may find the following websites useful in providing additional information in respect of the property and the immediate surrounding area.
Value & comps
No previous sales on record.
Returns
Set an offer; the calculator follows it.
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Archie refurb estimate: a Pro feature
0.0% below asking
This is not financial or investment advice. Prop AI Deals is not authorised by the Financial Conduct Authority (FCA) to provide investment advice.
All investment calculators, property analyses, and AI-generated insights are for informational purposes only. Property investment carries risk and may result in financial loss. All calculations should be independently verified and you should consult with FCA-authorised financial advisors before making any investment decisions.
Past performance does not guarantee future results. Tax implications vary by individual circumstances.
Deal
Properties like this can earn 2–3x BTL yields when converted to HMO, with retrofit costs around £10k/room. Sign in to see the full tier, yield projection, and cost breakdown.
Commercial properties like this can earn 30-50% higher yields when converted to residential under Class MA / Q / P / PA, with prior approval costing ~GBP 96/unit. Sign in to see the recommended route, yield uplift, and cost breakdown.
BRRR-suited properties can recycle 80-100% of investor capital on refi, leaving a high-yielding rental with most of the money out. Sign in to see the refurb cost stack, ARV projection, and refinance maths.
Detached + large garden = sub-division play. Pro tier unlocks the tier badge, plot size, uplift estimate, and regional land benchmark.
Short-lease flats trade at deep discount, but extending under the 1993 Act often costs far less than the discount. Pro tier unlocks the tier badge, premium breakdown, long-lease ARV and arbitrage maths.
See projected short-stay revenue vs a vanilla BTL for this property.
See real sub-let margins (HMO room rates & SA nightly rates) vs the landlord rent.
Area
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FAQ
About Wellowgate Mews, GRIMSBY, Lincolnshire, DN32
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