Summary - 41 HUMBER STREET CLEETHORPES DN35 8NN
5 bed 1 bath House of Multiple Occupation
Fully let, licensed and managed investment a short walk from the beach.
- Five double rooms, four with en-suite facilities
- Top-floor room includes ensuite and kitchenette
- Fully tenanted and fully managed (hands-off operation)
- Annual rent stated £37,599.84 (income-producing on exchange)
- Guide price £180,000; advertised yield c.20.9% (also referenced 18%)
- Unconditional auction sale: 5% deposit and 5%+VAT buyer’s premium
- Very high local crime and very deprived area — assess operational risk
A fully refurbished, five-bedroom house of multiple occupation arranged over three floors, offered freehold and fully tenanted. The property is fully licensed as an HMO, comes with four en-suite rooms plus a top-floor room with kitchenette, communal lounge, kitchen and laundry, and is advertised as a fully managed, hands-off investment with sea views from some rooms. Annual rent is stated at £37,599.84, with a guide price of £180,000 and an advertised yield figure of c.20.9% (an 18% yield is also referenced in marketing).
The lot will be sold at online auction on 29 October (unconditional sale). Buyers should allow for the auction purchaser obligations: 5% deposit on fall of the hammer, a buyer’s premium of 5% + VAT (minimum £5,000 + VAT), and completion usually required within 28 days. The legal pack and any special conditions are available to download and must be reviewed; any additional costs disclosed there will be payable on completion.
Location is a short walk from Cleethorpes seafront and local amenities, with excellent mobile and fast broadband connectivity. Note the immediate area is described as very deprived with very high recorded crime; this is an important factor for operators and occupiers to consider despite the beachfront proximity. The property is being offered as a fully operating, income-producing HMO, making it suitable for investors seeking immediate cashflow, but purchasers should assess licence documentation, tenancy files and the legal pack before bidding.
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