Auction
Auction date passed
This lot went to auction on 21 October 2026 (6 days ago) but remains listed. It was still on the portal today. That usually means it didn’t sell — it may now be available by private treaty or head to a future auction. Worth confirming current availability with the agent.
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See how verdicts work6-bedroom flat · NG31 6JZ
For saleListed 32 daysAuction 21 Oct · unsold, still listed
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
For sale by Under The Hammer online auction on Wednesday 21st October 2026. Head over to our website to download the legal pack, register to bid and see more information.
A 6 bedroom investment opportunity arranged as four separate self-contained flats across 61-62 Westgate, Grantham with a projected rental income of approximately £24,000 per annum.
The property comprises four individual apartments, with Flats 1 and 4 each providing two bedroom accommodation and Flats 2 and 3 each providing one bedroom accommodation.
The apartments provide separate kitchen/living accommodation, bedrooms and bathroom facilities, with communal hallways serving the individual flats.
Flats 1,2 and 4 are Freehold, whilst Flat 3 is Leasehold with approximately 960 years remaining on the lease. There are no service charges or ground rents payable on any of the apartments.
The current rental income includes Flat 3, which is let at £450 pcm, and Flat 4, which is let at £437 pcm.
Flats 1 and 2 are currently estimated to achieve £625 pcm and £525 pcm respectively, giving a projected total rental income of approximately £2,037 pcm, equating to £24,444 per annum.
The property will appeal to investors looking to acquire a multi-unit residential investment with four separate apartments, a combination of Freehold and long Leasehold interests and scope to generate an income from the individual units.
The property is situated on Westgate in Grantham, within close proximity to the town centre and its range of shops, restaurants and everyday amenities.
Grantham also provides a mainline railway station with connections to London King's Cross and other major towns and cities. Here's what to do next Visit - Our website and view the auction terms.
View - Book a viewing directly through our website. Register - Get registered prior to the auction opening date. Legal Pack - Download and view the legal pack to find out all the relevant information.
Prior Auction Offer - Want it now? Submit a prior auction offer through our website. All offer's go direct to the seller.
Bidding - Everything is completed online through the website and the intuitive bidding controls.
If you would like your property to go into our next auction then contact our auction experts on or submit a valuation on our website
Value & comps
No previous sales on record.
See the independent valuation, upside vs guide, and per-strategy max bid for this lot. Sign in to see it.
Returns
Set an offer; the calculator follows it.
We're still gathering serviced-accommodation data for this area.
Archie refurb estimate: a Pro feature
0.0% below starting price
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 advisers 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
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FAQ
About Flats 1,2,3,4 - 61-62 Westgate, Grantham, NG31 6JZ, Flats 1,2,3,4 - 61-62 Westgate, Grantham, NG31 6JZ, Grantham
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