Summary - 193 CORPORATION ROAD GRIMSBY DN31 2PY
3 bed 1 bath Terraced
Investment project with HMO potential and strong yield upside.
Freehold mid-terrace with front and rear gardens
A mid-terrace three-bedroom property offered freehold and sold at online auction. The house occupies a small plot with front and rear gardens, traditional solid-brick construction (c.1900–1929) and double glazing installed before 2002. The accommodation includes two reception rooms, kitchen, utility room and a family bathroom across an average-sized footprint of about 1,023 sqft.
This is a clear refurbishment project with genuine investor appeal. Guidance in the sales information suggests HMO conversion potential (subject to planning) and an estimated rental comparables figure of around £650 pcm. Services include mains gas central heating and fast broadband / excellent mobile signal, which support lettings once repairs are completed.
Buyers should note significant defects and local factors that materially affect value. One internal room shows severe damp and mould requiring immediate remedial work; walls are solid brick and presumed uninsulated. The property sits in a very deprived neighbourhood with high crime statistics and constrained rental demand; these factors will affect tenant profile and prospecting. The sale is at auction and carries additional fees (administration and buyer’s premium) and the buyer must check the legal pack for disbursements and tenure details.
For an investor or developer with renovation experience, this property offers a low entry price and scope for yield after refurbishment or conversion. For owner-occupiers seeking a low-cost purchase, accept that the house needs significant modernisation and damp remediation before it will be a comfortable long-term home.
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