Summary - 270a, Weelsby Street, GRIMSBY DN32 7PQ
1 bed 1 bath Block of Apartments
High-yield refurbishment in central Grimsby with simple rental income potential.
- Freehold end-terrace split into two 1-bed self-contained flats
- Separate gas central heating systems and uPVC double glazing
- Small total size ~399 sq ft; compact rooms throughout
- Needs modernisation: kitchens, bathrooms, and cosmetic works
- Solid brick walls with no assumed insulation; upgrade advised
- Estimated post-refurb rents £75 per flat per week (£7,800 pa)
- Strong reported yield ~13.7% at current asking price
- Located in a deprived, transitional rental neighbourhood
A compact freehold end-terrace converted into two self-contained one-bedroom flats, this property offers a clear route to rental income after basic modernisation. Each flat has its own gas central heating and uPVC double glazing, providing separate services and straightforward tenant management. Estimated post-refurb weekly rents of £75 per flat give an approximate annual income of £7,800 and a strong reported yield of around 13.7% at the current asking price.
The building is of traditional red-brick Victorian construction with solid walls (no insulation assumed) and standard ceiling heights. Interiors are small and dated throughout and will need kitchen, bathroom and cosmetic upgrades to reach market rent levels. Services are in place, but buyers should allow for routine maintenance and potential improvements to insulation and internal layouts to improve long-term running costs and tenant appeal.
Location is urban and practical, with local shops, takeaways and primary/secondary schools nearby. The surrounding area is described as a transitional Eastern European neighbourhood with a constrained renting market and higher area deprivation; this supports lettings but can affect tenant profiles and long-term capital growth assumptions. Flood risk is very low and local crime levels are reported low.
Suitable for investors or small-scale developers seeking a high-yield refurbishment project. Be aware: limited internal space (approx. 399 sq ft total), likely fabric upgrades needed (insulation/thermal improvements), and the property requires modernisation throughout to reach the estimated rental figures.
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