2 bed terraced house for sale

Arthur Street, Grimsby DN31

Summary

An excellent buy-to-let investment opportunity offered for sale by auction, located on Arthur Street, just off Lord Street and within close proximity to Grimsby town centre. The property is well positioned for shops, amenities, employment hubs and public transport links, making it a consistently strong location for rental demand.

The property is a two-bedroom mid-terrace house comprising an entrance hall, lounge, separate sitting/dining room, a smart fitted kitchen, rear entrance lobby and a bathroom fitted with a white suite. To the first floor are two well-proportioned bedrooms. Externally, the property benefits from a low-maintenance rear yard.

The property is currently let, with the tenant wishing to remain in occupation, producing an income of 475 per calendar month (5,700 per annum). There is clear scope for rental growth over time, subject to the usual statutory requirements and market conditions. Based on the guide price, the current income a strong gross yield of approximately 10.3%, with further upside potential through future rental increases.

With a starting bid price of 55,000, this represents an excellent investment opportunity for landlords seeking an immediately income-producing asset close to the town centre.

The property is offered for sale by auction and would make a strong addition to an existing portfolio or an ideal entry-level investment.

Council Tax Band: A
Tenure: Freehold

Auctioneers Additional Comments

Pattinson Auction are referred to below as The Auctioneer. This auction lot is being sold under either conditional (Modern) or unconditional (Traditional) auction terms and overseen by the auctioneer. The property is available to view strictly by appointment only via any Marketing Agent or The Auctioneer. Please be aware that any enquiry, bid or viewing of the subject property will require your details being shared between any marketing agent and The Auctioneer so that all matters can be dealt with effectively. The property is being sold via a transparent online auction. To submit a bid on any property marketed by The Auctioneer, all bidders buyers must adhere to a verification of identity process in line with Anti Money Laundering procedures. Bids can be submitted at any time and from anywhere. Our verification process is in place to ensure aml procedures are carried out in accordance with the law

Auctioneers Additional Comments

The advertised price is commonly referred to as a Starting Bid or Guide Price and is accompanied by a Reserve Price. The Reserve Price is confidential to the seller and the auctioneer and will typically be within a range above or below 10% of the Guide Price, Starting Bid. These prices are subject to change. An auction can be closed at any time with the auctioneer permitting for the property (the lot) to be sold prior to the end of the auction. A Legal Pack associated with this particular property is available to view upon request and contains details relevant to the legal documentation enabling all interested parties to make an informed decision prior to bidding. The Legal Pack will also outline the buyers obligations and sellers commitments. It is strongly advised that you seek the counsel of a solicitor prior to proceeding with any property and/or Land Title purchase.

Auctioneers Additional Comments

In order to secure the property and ensure commitment from the seller, upon exchange of contracts, the successful bidder will be expected to pay a non-refundable deposit equivalent to 5% of the purchase price. The deposit will form part of the purchase price. A non-refundable reservation fee of up to 6% inc VAT (Subject to a minimum fee which could be up to 7,200 inc VAT) is also payable upon agreement of sale. The Reservation Fee is in addition to the agreed purchase price, and consideration should be given by the purchaser to any Stamp Duty Land Tax liability associated with the overall purchase costs. Both the Marketing Agent and the Auctioneer may consider it necessary or beneficial to pass customer details to third-party service suppliers, from whom a referral fee may be received. There is no requirement or obligation to use any recommended suppliers or services.