Summary - 37A GRIMSBY ROAD CLEETHORPES DN35 7AQ
1 bed 1 bath Commercial Property
Three-storey commercial investment with immediate income and room for future upside.
Large double-fronted building, 2,722 sq ft across three floors
A substantial three-storey, double-fronted commercial building on Grimsby Road offering 2,722 sq ft of adaptable retail and office accommodation. The property is let to a national charity (We Are With You) on a five-year term, producing £12,000 per annum, reflecting a net initial yield of 9.43% at the asking price. Practical features include uPVC double glazing, gas central heating, fitted lighting, security alarm and external roller shutters to the shopfront.
The location is a prominent main arterial road with strong daytime footfall and a mix of local retail and services nearby, which supports tenant demand and visibility. The building’s solid brick construction, three floors of offices/stores and enclosed rear yard provide flexibility for continued commercial use or potential reconfiguration subject to consent. Flooding risk is very low and mobile/broadband connectivity is good.
Buyers should note the wider socio-economic context: the area is classified as very deprived with high local crime levels and constrained local incomes. The current tenancy and headline rent reflect that market; the property likely suits investors seeking a higher-yielding, hands-on asset or an owner-occupier willing to accept area challenges in exchange for a large building on a main road. Tenure details are not provided and should be checked before exchange.
Overall, this is a pragmatic investment opportunity: long lease to a single occupier, immediate income, clear physical security features, and scope for rental growth or alternative uses after lease expiry, balanced against local deprivation and reputational/lettings considerations in the area.
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