Summary - Flat 4, Hope House DN32 7QL
3 bed 1 bath Flat
Low-start auction lot with sitting tenant and long lease.
- Ground-floor 3-bedroom apartment, ideal for buy-to-let
A ground-floor, three-bedroom leasehold flat presented as a clear buy-to-let prospect in central Grimsby. The property is sold with a sitting tenant and a low starting price, making it suitable for investors seeking immediate rental income and long-lease security (c.999-year lease from 2007).
The building and flat are dated and will need updating; expect refurbishment and modernisation to improve rental yield or re-let value. There is no private garden and on-site parking appears limited. The wider location is in a very deprived area, so factor local market risk into rental assumptions.
Sale is by the Modern Method of Auction: completion is intended within 56 days, an undisclosed reserve applies, and buyers will pay a non-refundable Reservation Fee (4.5% of price, minimum £6,600 inc. VAT). A Buyer Information Pack is available for £349 (inc. VAT). Annual service charge is £1,457.86 and council tax is very low.
Reported current rental income is quoted at approximately £395–£450 pcm (sold with sitting tenant). The low guide price (£23,000) and long lease offer upside for investors prepared to carry refurbishment and manage tenant obligations, but auction terms and additional fees materially affect total purchase cost.
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