Summary - High Street, Scunthorpe, DN15 DN15 6EH
7 bed 4 bath Block of Apartments
Small freehold block with strong post-refurb returns for hands-on investors.
Freehold mixed-use block on Scunthorpe High Street
A compact mixed-use block on Scunthorpe High Street offering clear investor potential. The ground floor is a vacant commercial unit; upper floors contain seven bedsits with shared bathrooms across approximately 1,550 sq ft. The property is chain-free, freehold and sold at auction, allowing a fast purchase route.
The building requires full refurbishment: there is no central heating system, assumed electric heaters only, solid uninsulated walls and double glazing installed before 2002. These are immediate cost considerations, but reconfiguration into self-contained flats is possible and underpins the projected post-refurb rental income of over £2,000 pcm and a forecast ROI of 14.5%.
Practical on-site features include gated rear access to the residential units and off-street parking. The property sits in a busy High Street location with strong footfall and many nearby amenities, which supports lettings for both commercial and residential uses. Note the area records very high crime and very high deprivation, factors to consider for management and insurance costs.
Purchase will attract a buyer's premium (1% + VAT, minimum fee applies) and the sale is auction-based — budget for the premium and the required deposit on exchange. Vacant possession and no onward chain simplify immediate refurbishment and letting plans for an investor prepared to carry out works.
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