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Macaulay Street, Grimsby, Lincolnshire, DN31

Yorkshire

£460,000
Listed on 05/09/2024

Property Details

Bedrooms
N/A
Type
Detached house

Description

This property presents a compelling opportunity for developers and investors, situated in the heart of the town center with approved planning permission for 23 residential units. The proposed development includes a thoughtful mix of terraced and semi-detached houses, designed to cater to diverse housing needs within the community. Detailed plans and specifications can be reviewed through the North East Lincolnshire Planning portal under reference number DM/0205/22/FUL. The location is advantageous, benefiting from strong demand for housing due to its proximity to local amenities, schools, and transport links. This area is increasingly attractive for both families and individuals seeking convenient access to services and leisure activities, which bodes well for future occupancy rates. Given the current market dynamics, this site offers significant investment potential. Developers looking to capitalize on the growing housing demand will find this project particularly appealing, whether they are small-scale builders or larger firms seeking expansion opportunities. For those interested in learning more about this unique chance to contribute to the local housing landscape, direct inquiries are encouraged to discuss further details and explore potential collaborations. This land is not just a purchase; it represents an avenue for strategic growth in a vibrant area ripe with possibilities.

Investment Analysis

(DN31 area)
Area Average
£89/sq ft
Avg Rent (weekly)
£134
Avg Yield
9.0%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£300,000 - £600,000
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
12
Average per month
Market Turnover
15%
Properties sold annually

Local Market Trend (DN31)

Area prices are falling by +8.2% over the last 12 months
3 year growth: -10.1%
5 year growth: 12.5%
Investment Disclaimer: Analysis based on DN31 area averages and may not reflect property-specific factors like condition, exact location, or unique features. Any renovation cost estimates provided are AI-generated and should be considered indicative only. 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

Macaulay Street, Grimsby, Lincolnshire, DN31
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Mortgage Calculator

£
£
£
%
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years

Current average 2-year fixed rate is 4.19%

Current average variable rate is 6.78%

Monthly Repayments
£1,685
Based on a loan of £345,000 over 30 years at 4.19% interest

These results are estimates and are only intended as a guide. Make sure you obtain accurate figures from your lender before committing to any mortgage. Your home may be repossessed if you do not keep up repayments on a mortgage.

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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE