Welholme Road, Grimsby, N E Lincs, DN32

Being sold with No Forward Chain and to include Freehold interest of the building, this incredible investment opportunity is a chance to purchase two readily separated flats as a single property unit.

This large central Grimsby mid-terrace property has undergone a complete reconfiguration in order to produce two one-bedroom flats, each including their own secure access from lobby, kitchen, bathroom and reception room as well as access to modern gas central heating.

Not only this but the purchase also includes front and rear gardens as well as a fitted external fire escape to the rear garden from the top floor flat.

Accommodation consists of a slightly larger one bedroom ground floor flat and a first floor dwelling which is accessible from both the front and rear due the additional of the exterior fire escape. Each flat has a separately metered utility supply as well as a fitted kitchen and bathroom. The period nature of the property also enhances the general appeal of each flat with sizable rooms and high ceilings.

The opportunity here is the chance to acquire a unit potentially capable of generating circa £950 - £1000 per calendar month in combined income, much more than what a conventional single dwelling could generate but with much of work already complete. This could potentially generate yields of around 9.40 - 10% dependent on purchase price.

The property's central location boasts a wealth of amenities in walking distance including the town centre and Freshney Place shopping precinct itself. This convenient placement offers an additional appeal to potential tenants.

For more information or to explore this opportunity in more detail, contact us today to discuss further or to arrange a viewing.

Auctioneers Additional Comments

Pattinson Auction are working in Partnership with the marketing agent on this online auction sale and are referred to below as 'The Auctioneer'.

This auction lot is being sold either under conditional (Modern) or unconditional (Traditional) auction terms and overseen by the auctioneer in partnership with the marketing agent.

The property is available to be viewed strictly by appointment only via Relo Estate Agents or The Auctioneer. Bids can be made via the Marketing Agents or via The Auctioneers website.

Please be aware that any enquiry, bid or viewing of the subject property will require your details being shared between both any marketing agent and The Auctioneer in order that all matters can be dealt with effectively.

The property is being sold via a transparent online auction.

In order to submit a bid upon any property being marketed by The Auctioneer, all bidders/buyers will be required to adhere to a verification of identity process in accordance with Anti Money Laundering procedures. Bids can be submitted at any time and from anywhere.
Our verification process is in place to ensure that AML procedure are carried out in accordance with the law.

A Legal Pack associated with this particular property is available to view upon request and contains details relevant to the legal documentation enabling all interested parties to make an informed decision prior to bidding. The Legal Pack will also outline the buyers’ obligations and sellers’ commitments. It is strongly advised that you seek the counsel of a solicitor prior to proceeding with any property and/or Land Title purchase.

Auctioneers Additional Comments

In order to secure the property and ensure commitment from the seller, upon exchange of contracts the successful bidder will be expected to pay a non-refundable deposit equivalent to 5% of the purchase price of the property. The deposit will be a contribution to the purchase price. A non-refundable reservation fee of up to 6% inc VAT (subject to a minimum of 6,000 inc VAT) is also required to be paid upon agreement of sale. The Reservation Fee is in addition to the agreed purchase price and consideration should be made by the purchaser in relation to any Stamp Duty Land Tax liability associated with overall purchase costs.

Both the Marketing Agent and The Auctioneer may believe necessary or beneficial to the customer to pass their details to third party service suppliers, from which a referral fee may be obtained. There is no requirement or indeed obligation to use these recommended suppliers or services.