Summary - 143 GRIMSBY ROAD CLEETHORPES DN35 7DG
1 bed 1 bath Commercial Property
Let retail plus four flats producing immediate rental income and scope to add value.
Total area approx. 284.58 sq m (2,244 sq ft)
A substantial mid-terraced mixed-use freehold offering predictable rental income and immediate yield for an investor. The ground-floor convenience store is let on a lease until 20 August 2030, while four upper flats are generating Assured Shorthold Tenancy income, giving a combined annual rent of £23,670 and a reported net initial yield of 8.84%.
The building extends to approximately 284.58 sq m (2,244 sq ft) with a practical layout: street-level retail with prominent shopfront and four self-contained flats above (two one-bed, two two-bed). The property sits on a small plot within a busy urban parade, benefiting from strong footfall and excellent mobile and broadband connectivity.
Buyers should note the socio-economic profile of the location: classified as very deprived with high local crime levels and constrained renter demographics. These factors affect long-term capital growth prospects and may influence tenant churn and management requirements. The property is offered subject to existing leases and tenancies and can be sold individually or as part of a wider portfolio.
There is potential to preserve income while exploring value-add options — active management of tenancies, targeted refurbishment of flats, or repositioning the retail unit when the lease expires in 2030. Any buyer should carry out full due diligence on building condition, services, and compliance given the age and mixed use of the premises.
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