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Cleethorpe Road, Grimsby, DN31 - Image 1
Cleethorpe Road, Grimsby, DN31 - Image 2
Cleethorpe Road, Grimsby, DN31 - Image 3
Cleethorpe Road, Grimsby, DN31 - Image 4
Cleethorpe Road, Grimsby, DN31 - Image 5

Cleethorpe Road, Grimsby, DN31

Yorkshire

£175,000
Listed on 02/02/2024

Property Details

Bedrooms
5
Type
Terraced house

Description

This substantial four-storey property is strategically located on Cleethorpes Road, a key thoroughfare linking the vibrant town centres of Grimsby and Cleethorpes. The high-visibility location near the A180/M180 motorway enhances its appeal for both residential and commercial ventures, making it an attractive option for developers looking to capitalize on the area's growth potential. Currently configured with approved planning permission (DM/0962/20/FUL), the design includes a ground-floor retail space alongside three one-bedroom apartments and a well-appointed two-bedroom executive apartment spanning two levels. Some preliminary work has already been completed by the current owner, including essential groundwork, staircases, internal wall framing, and installation of various windows and flooring. This foundational work provides a head start for any potential investor keen on continuing the project. The existing owner has invested considerable effort into this development, motivated by a vision for revitalizing the local area. With plans in place and groundwork established, this property not only presents significant investment potential but also offers an opportunity to contribute positively to the community’s evolution. Exploring this property could reveal a unique opportunity for discerning investors or developers who are ready to shape its future. An internal viewing will provide insight into how this versatile space can be transformed into profitable residential or commercial units within a thriving locale.

Investment Analysis

(DN31 area)
Area Average
£90/sq ft
Avg Rent (weekly)
£142
Avg Yield
9.4%

Renovation Potential

Est. Renovation Cost
£17,500 - £43,750
10-25% of property value
Monthly Sales
12
Average per month
Market Turnover
25%
Properties sold annually

Local Market Trend (DN31)

Area prices are falling by +3.8% over the last 12 months
3 year growth: -8.2%
5 year growth: 19.1%
Investment Disclaimer: Analysis based on DN31 area averages and may not reflect property-specific factors like condition, exact location, or unique features. Renovation costs vary significantly based on property condition and scope of work. Always conduct professional surveys and get multiple quotes before making investment decisions.

Location

Cleethorpe Road, Grimsby, DN31
Map showing location of Cleethorpe Road, Grimsby, DN31
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