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Grimsby Road, Cleethorpes... Block of apartments for sale
Grimsby Road, Cleethorpes, Lincolnshire, DN35
£179,950
Grimsby Road, Cleethorpes, Lincolnshire, DN35
£179,950
Our Summary
- This property presents a secure, long-term investment opportunity, offering both commercial and residential income streams in a highly sought-after location
- Investment Opportunity
Description
This part-let investment property in a prominent location on Grimsby Road offers a unique opportunity for investors. The property features a ground floor retail unit with three one-bedroom flats, generating a combined annual rent of £13,900, resulting in a gross initial yield of 7.12%. The retail unit has a main retail area, office, and workshop space, while the three flats have separate access points. Two of the flats are currently tenanted on ASTs, while the third is undergoing planning to be converted back to a residential unit. The retail unit is also tenanted on a three-year lease agreement, achieving £5,200 per annum. Strategically located on Grimsby Road, the property provides easy access to both Grimsby and Cleethorpes, making it an attractive long-term investment opportunity with both commercial and residential income streams.