Summary - 221 DURBAN ROAD GRIMSBY DN32 8AU
3 bed 1 bath Terraced
Low-cost refurbishment opportunity with HMO potential for seasoned investors.
Guide price £20,000; sold at online auction
Freehold mid-terrace Victorian with bay window character
Requires full renovation; EPC rating G and room heaters only
Approx 1,098 sq ft, three bedrooms, two reception rooms
Potential HMO subject to planning; possible higher rental yield
Estimated post-renovation rent ~£700pcm; quoted HMO income higher
Area: high crime, very deprived; constrained local rental market
Administration and buyer’s premium fees £1,800 each on exchange
Sold at auction with a guide price of £20,000, this Victorian mid-terrace on Durban Road offers clear refurbishment upside for investors. The property extends to about 1,098 sq ft with three bedrooms, two reception rooms and a small enclosed rear garden — useful for tenants or resales. Broadband and mobile signal are strong and the house is freehold, with vacant possession on completion.
The property requires a full scheme of improvement: cosmetic and structural works are needed, heating is by room heaters, and the current EPC is a low G rating. There are additional sale costs to budget for — an administration fee and buyer’s premium of £1,800 each payable on exchange — and the local area has high crime and marked deprivation which will affect lettability and management.
Income potential is the main attraction. Estimated rental after renovation is quoted at about £700 pcm (£8,400 pa), with scope for higher returns if an HMO conversion is obtained (planning required) — the brochure suggests potential income of circa £20,000 pa for an authorised HMO. This is a short-term project for investors prepared to manage renovation, permissions and local letting challenges.
Buyers should commission full surveys and check the legal pack carefully before bidding. The property will be sold online at auction; suitability hinges on appetite for refurbishment, ongoing management in a constrained rental market, and acceptance of auction purchase costs.
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