Starting Bid: £20,000
Frodingham
STEP INSIDE
Offered for sale with a paying tenant in situ, this spacious three / four bedroom mid terrace property represents an ideal buy to let investment opportunity, available via Modern Method of Auction with a guide price of £20,000 providing a gross yield of 12% based on this starting bid. The accommodation is arranged over two floors and offers flexible living space, with multiple reception rooms that allow the layout to be used as either three or four bedrooms depending on requirements. The property benefits from a fitted kitchen, a ground floor bathroom, and well proportioned rooms throughout. The current tenant generates a rental income of £450 per calendar month, providing immediate income from day one.
Location
Situated on Frodingham Road, the property is well placed for access to Scunthorpe town centre, local shops, schools, and public transport links. The area remains popular with tenants due to its convenience and proximity to amenities, making this a consistently strong rental location. Excellent road links connect to the wider North Lincolnshire area, further enhancing the property’s appeal as a long term investment.
This property is for sale by Modern Method of Auction allowing the buyer and seller to complete within a 56 Day Reservation Period. Interested parties’ personal data will be shared with the Auctioneer (iamsold Ltd).
If considering a mortgage, inspect and consider the property carefully with your lender before bidding. A Buyer Information Pack is provided, which you must view before bidding. The buyer is responsible for the Pack fee. For the most recent information on the Buyer Information Pack fee, please contact the iamsold team.
The buyer signs a Reservation Agreement and makes payment of a Non-Refundable Reservation Fee of 4.5% of the purchase price inc VAT, subject to a minimum of £6,600 inc. VAT. This Fee is paid to reserve the property to the buyer during the Reservation Period and is paid in addition to the purchase price. The Fee is considered within calculations for stamp duty.
Services may be recommended by the Agent/Auctioneer in which they will receive payment from the service provider if the service is taken. Payment varies but will be no more than £960 inc. VAT. These services are optional.
CHARLOTTE NEVILL
