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Farebrother Street, Grimsby

Yorkshire

£68,500
Listed on 04/07/2025

Property Details

Bedrooms
3
Type
Terraced house
Area
948 sqft

Description

This adaptable mixed-use property offers significant potential for investment and redevelopment in a prime location within Grimsby. The ground floor consists of a spacious commercial unit, previously utilized as a dog grooming salon, featuring an expansive shopfront that benefits from excellent visibility on the street, making it suitable for various business ventures. To the rear, there's an additional room that can serve as work or storage space alongside a handy WC. On the first floor, you'll find a self-contained one-bedroom flat with its own private entrance, offering comfortable living accommodation. This flat includes a bright bay-fronted living room, a practical kitchen, and a double bedroom with an accompanying shower room—ideal for rental or personal occupancy. The exterior boasts a substantial outbuilding that enhances the property’s appeal with potential for extra storage or even further development (subject to planning permissions). With partial double glazing already in place, this property presents an instantly usable asset while still allowing room for upgrades and enhancements to maximize its value.

Investment Analysis

(DN32 area)

Below Market Value

This property is priced -25.9% below area average per sq ft

-25.9%
Potential saving
This Property
£72/sq ft
Area Average
£98/sq ft
Avg Rent (weekly)
£143
Avg Yield
6.5%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£25,000 - £40,000
Target Value
£101,673
10% above area average per sq ft
Potential ROI
-6.3%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
39
Average per month
Market Turnover
43%
Properties sold annually

Local Market Trend (DN32)

Area prices are falling by -2.6% over the last 12 months
3 year growth: -7.1%
5 year growth: +3.1%
Investment Disclaimer: Analysis based on DN32 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

Farebrother Street, Grimsby
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Mortgage Calculator

£
£
£
%
%
years

Current average 2-year fixed rate is 4.06%

Current average variable rate is 6.81%

Monthly Repayments
£247
Based on a loan of £51,375 over 30 years at 4.06% 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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