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Renovation Opportunity - Freehold Property with Potential

Renovation Opportunity - Freehold Property with Potential

Address

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Auction date

15 Sep 2025

Guide price

£20,000

Type

Other

Tenure

Freehold

EPC Rating

C

Status

Upcoming

Auction location placehbolder

Description

This property is strategically located on Neville Street in the vibrant town of Cleethorpes. It is close to numerous amenities and the beachfront, making it a desirable area for potential renters.

The property, currently comprising two flats, requires complete renovation due to fire damage. There is significant potential for value addition and generating rental income, estimated to be around £1,100 per month, totaling approximately £13,200 annually. There is also the option to convert it into an HMO, subject to planning permissions, which could yield approximately £20,000 per year.

Accommodation Details:

  • Ground Floor Flat: Includes sitting room, dining kitchen, bedroom, and bathroom.
  • First Floor Flat: Comprises sitting room, kitchen, bedroom, and bathroom.

External features include front and back gardens.

Last update: 10 Sep 2025

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