2-bedroom flat · DN32 0RA
Listing removedListed 351 days
Opportunity summary
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About
(WE ARE OFFERING PART ONLY OF THE PROPERTY SHOWN IN THE PHOTOGRAPH) Two-bedroom first-floor flat currently occupied by a sitting tenant.
The property generates an annual rental income of £5,280, providing a yield of approximately 10%. Suitable for investors seeking an income-producing asset with an established tenancy in place.
First Floor Entrance Hallway Entered via a uPVC double glazed frosted front door and complete with a radiator.
Living Room 2.76m x 4.65m With a uPVC double glazed front window, radiator and a timber mantelpiece.
Kitchen 3.26m x 2.19m With a range of wall and base units incorporating a cooker with a four-ring gas hob and extractor, basin with a mixer tap and space and plumbing for other white goods.
Complete with partial tiling and a uPVC double glazed front window. Bedroom 1 1.97m x 4.04m With a uPVC double glazed rear window, radiator and the "Glow Worm" combination boiler.
Bedroom 2 2.07m x 3.34m With a uPVC double glazed rear window and a radiator. Bathroom A three piece suite comprising of a bath with an over head shower, pedestal basin and a w.c.
Complete with partial tiling and a radiator. Tenure We understand the property is held on a 125 year lease from 6th April 1988 with a ground rent of £10 per annum.
All interested parties are advised to make their own enquiries.
Service Charge We understand there is a service charge of £230.65 per annum including insurance (for year 2024/2025), which is managed by Scotts Property LLP.
We understand from the vendor that there may be some additional costs for unexpected works. All interested parties are advised to make their own enquiries.
Parking We are advised there is an allocated parking space in the car park to the rear of the property.
Broadband & Mobile Phone Coverage Please use the following link to check the mobile phone and broadband coverage for this property.
Services We have not tested or inspected any heating systems, fixtures, appliances or services, purchasers should rely on their own survey.
Council Tax Band A This information was obtained on the 28th October 2025 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.
Mortgage Advice Mortgage Advice Bureau works with Jackson, Green & Preston Estate Agents to provide their clients with expert mortgage and protection advice.
We have access to over 12,000 mortgages from 90+ lenders so we can find the right mortgage to suit your individual needs.
The expert advice we offer, combined with the volume of mortgages that we arrange, places us in a very strong position to ensure that our customers have access to the latest deals available and receive a first-class service.
We will take care of everything from explaining all of your options and helping you select the right mortgage, to choosing the most suitable protection for you and your family and handling the whole application process.
Your home may be repossessed if you do not keep up repayments on your mortgage. There may be a fee for mortgage advice. The actual amount you pay will depend upon your circumstances.
The fee is up to 1% but a typical fee is 0.3% of the amount borrowed. Mortgage Advice Bureau (truncated)
Value & comps
No previous sales on record.
Returns
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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
Agent & docs

FAQ
About Wellowgate, Grimsby, Lincolnshire, DN32
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