Residential Portfolio in

Weelsby Street DN32 8BN and 189 Hainton Ave DN32 9LD, Grimsby, Lincolnshire, DN32

Brochure

Tenure: Freehold

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Starting bid£170,000

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Key Information

Parking: None, On Street

Property features

Two three-bedroom terraced houses and two one-bedroom flats
Current gross rental yield of approximately 13.0%
Potential rental income of £26,400 per annum and gross yield of approximately 15.5%
Three freehold properties comprising four tenanted dwellings
Fully tenanted and currently producing £22,140 per annum
Existing rents are understood not to have been increased
Japanese knotweed treatment plan quotation of £2,800 for 189 Hainton Avenue

Residential Portfolio in

For sale via auction - fees, terms and conditions apply.

An excellent opportunity for investors to acquire a fully tenanted residential portfolio comprising three freehold properties and four individual dwellings, offered for sale as a single lot by auction.

The portfolio comprises two three-bedroom terraced houses at 357 and 367 Weelsby Street, together with a substantial property at 189 Hainton Avenue which has been divided to provide two self-contained one-bedroom flats. The properties occupy established residential locations within Grimsby, conveniently placed for local shops, schools, amenities, public transport links and the town centre.

357 Weelsby Street, registered under Freehold Title HS263278, is a three-bedroom terraced house currently let at £475 per calendar month. The tenancy is presently subject to rent arrears, although Universal Credit payments of £395 per month are paid directly to the managing agent, with the remaining balance payable by the tenant.

367 Weelsby Street, registered under Freehold Title HS308699, provides a further three-bedroom terraced house. The property is currently let at £520 per calendar month and the rental account is understood to be up to date.

189 Hainton Avenue, registered under Freehold Title HS59121, has been divided into two self-contained one-bedroom flats. Both flats are described as being in good general condition and are currently let at £425 per calendar month each, with both rental accounts understood to be up to date. Japanese knotweed has been identified at this property and a quotation of £2,800 has been obtained for a treatment plan, with further information to be made available within the auction legal pack.

The existing rents are understood not to have been reviewed or increased recently and therefore offer potential for future rental growth. It is estimated that, in their present location and condition, the Weelsby Street houses could each command a rent in the region of £600 per calendar month, while the flats at 189 Hainton Avenue could each achieve approximately £500 per calendar month. Subject to the terms of the existing tenancies, the appropriate statutory procedures and prevailing market conditions, this would provide a potential combined rental income of approximately £2,200 per calendar month or £26,400 per annum.

The portfolio currently generates a combined passing rent of £1,845 per calendar month, equivalent to £22,140 per annum, representing a gross yield of approximately 13.0% against the starting bid. If the estimated rental values were achieved, the potential gross yield would increase to approximately 15.5%.

Prospective purchasers should satisfy themselves regarding the tenancy documentation, rental accounts, estimated rental values, condition of the properties, status of the flat conversion and proposed Japanese knotweed treatment plan by inspecting the auction legal pack before bidding.

357 Weelsby Street

Entrance hall, living room, sitting room, kitchen, rear lobby, bathroom, 3 bedrooms and gardens to front and rear.

367 Weelsby Street

Entrance porch, through living room, kitchen, bathroom, first floor landing and 3 bedrooms.

Ground Floor Flat 189 Hainton Avenue

Entrance hall, living room, lobby, bedroom, kitchen and bathroom.

First Floor Flat 189 Hainton Avenue

First floor landing, living room, bedroom, kitchen, bathroom and gardens to front and rear.

Broadband & Mobile Phone Coverage

Please use the following link to check the mobile phone and broadband coverage for this property.

Services

We have not tested or inspected any heating systems, fixtures, appliances or services, purchasers should rely on their own survey.

Council Tax Band A (Each Property)

This information was obtained on the 20th July 2026 and is for guidance purposes only. Purchasers should be aware that the banding of the property could change if information is brought to light that makes it clear to the Valuation Office Agency that an error was made with the original allocation. Additionally, there may be circumstances when the Council Tax can be altered on change of ownership. All interested parties are advised to make their own enquiries.

Accommodation

An excellent opportunity for investors to acquire a fully tenanted residential portfolio comprising three freehold properties and four individual dwellings, offered for sale as a single lot by auction

Location

Established residential locations convenient for Grimsby town centre

Council Tax

357 Weelsby - Band A 367 Weelsby - Band A 189 Hainton - Band A GF Flat - 189 Hainton - Band A

Tenure

Freehold titles, numbers HS263278 (357 Weelsby), HS308699 (367 Weelsby) and HS59121 (189 Hainton)

EPC

357 Weelsby Street, GRIMSBY, DN32 8BN - Rating D 367, Weelsby Street, GRIMSBY, DN32 8BN -- we currently await an updated EPC Ground Floor Flat, 189 Hainton Avenue, GRIMSBY, DN32 9LD - Rating D Top Flat, 189 Hainton Avenue, GRIMSBY, DN32 9LD - Rating D

Additional Information

For further information please contact our office directly on 0191 737 1154, or alternatively via email on commercial@pattinson.co.uk. With regards to viewing subject property, this is to be done strictly by appointment.

Open map Street view

This property is being sold subject to unconditional reservation fee auction terms and conditions.

Timescales

Contracts will exchange immediately. There are 28 days in which to complete the purchase.

Legal Pack

A legal pack is available to download. Special conditions may apply.

We strongly recommend buyers familiarise themselves with the legal pack prior to bidding.

Deposit

In order to secure the purchase a buyer will pay a deposit of 5% which contributes towards the overall purchase price of the property.

The deposit is non-refundable.

Buyer Fees

This property is sold subject to a non-refundable reservation fee of 5% + VAT to a minimum of £6,000 + VAT (£7,200 inc VAT) This does not form part of the purchase price.

A reservation fee is payable by the buyer where a seller has opted to sell with no fees. As a result, a lower reserve price is usually agreed on lots where a reservation fee is applicable.

More Information

For more information call our auction experts on 0191 206 9335 or email auctions@pattinson.co.uk

ONLINE AUCTION NOTICE

I hereby acknowledge and confirm the following:

My bid may be accepted by the seller at any time before the close of the auction. It is subject to the terms and conditions of the auction which I have read and understood. I have read and understood the legal pack applicable to my bid/lot and agree to be bound by any special conditions within that pack.

If my bid is successful (whether as the highest bid or upon acceptance by the seller in the course of the auction) I shall be bound by the lot terms and conditions as advertised online.

Any amount payable at the close of the auction must be paid within 1 hour.

Please note that the bidding process will work in a different way to an eBay auction, so there is NO advantage to bidding at the last second.

Each auction will automatically stay open until there has not been a bid within the final 10 minutes. If no bid has been submitted within the final 10 minutes of the auction, the auction will close and the highest bidder will be successful subject to the reserve price being met or upon acceptance of an offer by the seller throughout the auction cycle. If there is another bid within 10 minutes of the last bid, the auction countdown timer will be restarted for another 10 minutes to allow further bidding. This system avoids last-minute (or second) bidding and makes for a fairer auction as in a live-room auction situation.

Please bid in good time before the end of the auction, delaying your bid to the last seconds may disadvantage you if your connection slows or you lose internet connectivity.

The auctioneer is not responsible for any tech issues, power outage or error messages which hampers or eliminates an individual's opportunity to bid.

It is the bidder's responsibility to ensure the bid has been lodged with the auctioneer. It is therefore beneficial to bid on your chosen lot at your earliest opportunity.

The auctioneer accepts no responsibility for bids that are not received or are received late and reserves the right to reject any bid without notice.

Minimum online bidding increments:
£50,000 - £250 minimum bid
£50,001 to £150,000 - £500 minimum bid
£150,001 to £250,000 - £1,000 minimum bid
£250,001 to £750,000 - £2,500 minimum bid
£750,001 to £1.5 Million - £5,000 minimum bid
£1.5 Million Plus - £10,000 minimum bid

Please note this bidding process applies specifically to online auctions.

More Information is available:

For more information call our auction experts on 0191 206 9335 or email auctions@pattinson.co.uk

The legal pack is not yet available. The auction will not end until the legal pack has been made available here for at least 24 hours.

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