3 × 1-bed flat · DN31 3HW
For saleReduced £25k (−13.9%) on 18 SepListed 157 days
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
An excellent opportunity to acquire the freehold of this 4 storey mixed use premises situated on the busy secondary commercial area linking Grimsby to Cleethorpes.
Positioned in a high-visibility, mixed-use locale proximate to the A180/M180 motorway, this property stands as a canvas for significant and lucrative development.
Benefiting from approved planning permission (DM/0962/20/ful), for a ground-floor retail unit accompanied by three one-bedroom apartments and a sophisticated two-bedroom executive-style apartment across two floors.
The current vendor has already initiated development, completing essential groundwork, including staircases, internal wall frames, numerous windows, and flooring.
Development will continue until an ongoing purchaser is found.
The project has been a labour of love for the current owner who, on the brink of retirement, seeks a successor to take the reins and bring this visionary development to fruition.
This undertaking offers not only the potential for excellent returns but also a chance to contribute to the transformation of the local landscape.
For further information please contact our office directly on, or alternatively via email on . With regards to viewing subject property, this is to be done strictly by appointment.
Ground Floor Space 1 (12.73m x 3.43m (41'9 x 11'3)) Space 2 (5.77m x 2.13m (18'11 x 7)) Space 3 (5.77m x 1.30m (18'11 x 4'3)) Space 4 (3.51m x 3.51m (11'6 x 11'6)) First Floor Space 5 (3.96m x 3.53m (13'0 x 11'7)) Space 6 (12.55m x 7.26m (41'2 x 23'10)) Second Floor Space 7 (4.27m x 3.86m (14'0 x 12'8)) Space 8 (4.98m x 3.86m (16'4 x 12'8)) Space 9 (12.67m x 3.33m (41'7 x 10'11)) Third Floor Space 10 (7.06m x 7.24m (23'2 x 23'9)) Balcony 1 (7.24m x 2.64m (23'9 x 8'8)) Balcony 2 (5.18m x 2.77m (17'0 x 9'1))
Value & comps
No previous sales on record.
Returns
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Archie refurb estimate: a Pro feature
0.0% below asking
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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 138-140, Cleethorpe Road, Grimsby
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