What is a Sourced Approved Investment?
These properties have been carefully sourced and packaged by experienced property investment specialists and trusted Sourced Partners.
- Pre-vetted for investment potential
- Due diligence carried out
- Tailored for investor goals
- Backed by Sourced's expertise and network
Key financials
Profit pa£18,900
ROCE24%
Yield7%
Purchase £ £34,185
Property description
Strategy: HMO
High-End 6-Bed HMO with 3 Studios and 3 En-suites in Grimsby
An excellent opportunity to acquire a 3-bedroom property in Grimsby, a high-demand rental location benefiting from strong tenant demand and ongoing regeneration.
The property offers the potential to be converted into a high-specification 6-bedroom HMO comprising 3 en-suite rooms and 3 self-contained studio units, creating a premium rental product designed to maximise cash flow and long-term returns.
The scheme includes a dormer loft conversion creating three additional en-suite rooms, resulting in a premium co-living product designed to maximise rental income and long-term capital growth.
All works will be planned under Permitted Developments.
Development Strategy
-Existing 3-bedroom terraced property.
-Conversion to 3 Studios, 3-Ensuites HMO.
-Dormer loft conversion creating the 3 additional rooms.
-High-specification finish throughout.
-Fully furnished upon completion.
-Designed to attract professional tenants and contractors.
Financials
Purchase Price: £74,950
GDV: £270,000
Refurbishment Costs: £183,970
Purchase Costs: £34,185
ROCE: 24%
Rental Potential After Refinancing
Annual Rent: £41,400
Annual Net Profit: £18,900
Monthly Net: £1,554
Net Yield 7% (factoring all costs- council tax, utilities, broadband, insurance, fully managed agent fees, maintenance)
Money Left in the Deal: £78,000
No of years until all money out: 4.36
AREA INFORMATION
Grimsby is a growing rental market with a population of approximately 85,000 and a strong economy driven by ports, logistics and the UK's expanding offshore wind sector. The town attracts a steady flow of contractors, professionals and skilled workers, creating consistent demand for quality shared accommodation.
Investment & Regeneration
Grimsby has benefited from over £67 million of regeneration funding in recent years, including the redevelopment of Freshney Place, a new leisure and retail quarter, town centre improvements and the Horizon Youth Zone.
Looking ahead, further investment is planned through the Freshney Place redevelopment, a new transport hub, waterfront housing schemes and continued expansion of the Humber offshore wind industry, supporting employment growth and long-term rental demand.
Whether you are an experienced investor or entering the property market for the first time, we offer the team, systems and proven track record of successfully delivering HMO projects, providing a hands-off investment experience from acquisition through to completion.
Quote deal no: 198
Sourced reference: 394476286136723
Due diligence
No information supplied.
Disclaimer
Sourced endeavour to make our particulars accurate and reliable, however, they do not constitute or form part of an offer or any contract and are not to be relied as statements of representation or fact. The selling agent may or may not be the sole agent and will provide confirmation upon request. Any services, systems and appliances listed in this specification have not been tested by us and no guarantee as to their operating ability or efficiency given. All measurements have been taken as a guide and are not precise, please be aware some of the details may be waiting vendor approval. If you require confirmation or further information, please contact the selling agent. Fixtures and fittings are to be confirmed with the seller and not relied upon when listed. Sourced are not responsible for any loss of monies due to the purchase or purchase process with any property listed.
Key financials
Profit pa£18,900
ROCE24%
Yield7%
Purchase £ £34,185
Sales Agent
Fahad Kalathingal
Grand Vista Properties Ltd
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What is a Sourced Approved Investment?
These properties have been carefully sourced and packaged by experienced property investment specialists and trusted Sourced Partners.
- Pre-vetted for investment potential
- Due diligence carried out
- Tailored for investor goals
- Backed by Sourced's expertise and network