Exceptional 5 Bed HMO – Heneage Road, Grimsby

5 Bedroom | 5 Bathroom | Design & Build Investment Opportunity

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Financial Breakdown

  • Purchase Price: £70,000.00
  • Deposit: £20,492.50 (includes 6 months interest for bridging loan)
  • Conversion/Build: £80,483.02 approx. (subject to further onsite visits)
  • Set up & Design Fees: £15,500.00
  • Stamp Duty: £3,500.00
  • Legals Estimate: £1,400.00
  • Survey: £650.00
  • Furniture & Flooring Packs: £11,408.99 (optional)
  • Total Project Cost: £185,934.51
  • Total Cash Outlay: £85,934.51 (based on development finance)
  • Projected Rental Income: £29,380/year (£105 PPPW x 3 + £125 PPPW x 2 net of bills)
  • Management Fees (10% incl. VAT): £4,305.60
  • Net Income After Management: £25,074.40/year
  • Post-Refinance Cash Left: £37,934.51
  • ROI After Refinance: 44.64%
  • Based on a refinance valuation of £185,000, approx. £148,000 can be released after 6 months, leaving net income around £16,934.40/year.

Why Invest in Grimsby?

  • Major regeneration funding: £67 million investment for docks, ~10,000 homes, ~8,000 jobs.
  • Infrastructure upgrades: Bridges, A180, ports, and logistics improvements.
  • Enterprise & Renewables: Growth in seafood cluster, offshore wind, and renewables hub.
  • Rising Housing Demand: Regeneration plans driving strong rental demand.
  • Value-Add Potential: Undervalued retail, leisure, and housing projects available.
  • Youth & Community Investment: Skills and workforce development initiatives (e.g., Youth Zone).
  • Improving Amenities: Freshney Place retail hub, town centre upgrades, and placemaking projects.

Planned Features

  • An Inspire landlord thermostatic system will be fitted to control central heating, potentially saving up to £1,000/year.
  • The property will be refurbished to the highest standard and will include a full furniture pack (washing machine, vacuum cleaner, microwave).
  • All rooms will be rented at market rates (£110 PPPW ensuite per person per week).
  • The property will be fully regulated and compliant with local council requirements upon completion.
  • Every room will be fitted with interlinked smoke alarms, emergency lighting, fire panels, and heat sensors.

Property Location

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Disclaimer: All figures are estimates and subject to market conditions, lender criteria, and planning outcomes. Capital at risk. Past performance is not a guarantee of future results. Always seek independent financial advice before investing. We also refer you to our terms and conditions which supersede any previous versions.