Grimsby Road, Cleethorpes, DN35

An excellent opportunity to acquire a ready-made investment comprising two self-contained flats within a substantial mid-terrace property, positioned along Grimsby Road and within easy reach of Cleethorpes, local amenities and transport links Ready-to-let investment with a gross yield of around 10% of both flats.

Based on current market conditions, each flat is estimated to achieve approximately £425–£450 per calendar month, offering a potential combined rental income in the region of £850–£900 per month. Each flat has its own entrance, gas central heating and uPVC double glazing throughout. Recently refreshed with neutral finishes, offering clean and lettable accommodation with minimal immediate outlay required.

The ground floor flat comprises a lounge, spacious kitchen/dining room, two bedrooms and a bathroom. To the first floor, the accommodation includes a lounge/diner, separate kitchen, three bedrooms and a bathroom, providing flexibility for a range of tenant types including families or sharers.

The flats are currently held on leasehold titles, with the option to purchase the freehold available upon completion, presenting further long-term value and control for an incoming purchaser.

Entrance Hall

Bedroom One

4.31m x 4.5m (14'2" x 14'9")

Lobby

Bedroom Two

3.99m x 3.79m (13'1" x 12'5")

Inner Hallway

Lounge

3.88m x 3.6m (12'9" x 11'10")

Kitchen/Dining Room

4.71m x 3.6m (15'5" x 11'10")

Bathroom

2.57m x 3.6m (8'5" x 11'10")

First Floor Flat Entrance

Lounge / Diner

4.79m x 3.6m (15'9" x 11'10")

Kitchen

2.98m x 3.6m (9'9" x 11'10")

Landing

Bedroom One

4.3m x 3.84m (14'1" x 12'7")

Bedroom Two

4.01m x 3.84m (13'2" x 12'7")

Bedroom Three

3.1m x 1.85m (10'2" x 6'1")

Bathroom

1.98m x 2.12m (6'6" x 6'11")

Tenure & Additional Information

The seller has advised that both the ground floor and first floor flats are held on leasehold titles, each with a term of 99 years from 5 April 1985 (approximately 58 years remaining). The ground rent is currently £20 per annum for the ground floor flat and £25 per annum for the first floor flat, payable yearly. There is no fixed annual service charge in place; any costs relating to the building, including insurance and maintenance of common parts, are to be arranged and shared in accordance with the lease terms. The seller has also confirmed that they own the freehold and would be open to selling this to a purchaser, either as part of the transaction or by separate negotiation, subject to agreed terms and legal costs.

Location

The property is ideally located close to Cleethorpes town centre where you will find the shopping areas of Sea View Street and St Peters Avenue. The Seafront has many attractions, including restaurants/bistros,wine bars and Cleethorpes golf course.

Broadband Type

Standard- 5 Mbps (download speed), 0.7 Mbps (upload speed), Superfast - 51 Mbps (download speed), 12 Mbps (upload speed). Ultrafast - 1800 Mbps (download speed), 220 Mbps (upload speed).

Compliance and ID

As part of our legal obligations under Anti-Money Laundering Regulations, we are required to verify the identity of all parties involved in a transaction. Once an offer has been agreed, we will undertake the appropriate ID checks. A fee of £ 25 Inc VAT per person is payable for this service.

Agents Note

These particulars are for guidance only. Lovelle Estate Agency, their clients and any joint agents give notice that:-

They have no authority to give or make representation/warranties regarding the property, or comment on the services, tenure and right of way of any property.

These particulars do not form part of any contract and must not be relied upon as statements or representation of fact.

All measurements/areas are approximate. The particulars including photographs and plans are for guidance only and are not necessarily comprehensive. Some images have been enhanced to improve presentation. An internal viewing is highly recommended to fully appreciate the property.