Stations and Supermarkets

When looking for properties to invest in, we all know that location is a key factor. We have written before about the draw of good schools but let’s not forget that good transport links are another plus.

Easy access to the motorway is a good choice as is a property near a good bus route. Stagecoach operate most of the buses in and around Grimsby and Cleethorpes and their website has up to date maps of their routes.

Grimsby and Cleethorpes both have train stations with Grimsby being the busiest in Northern Lincolnshire with more than 422,000 people using the station last year. From Grimsby, residents are easily able to commute to work in Lincoln, Newark, Scunthorpe, Doncaster and beyond and with an annual season ticket to Doncaster costing around £3,350 a good rental property close to the station will be very appealing to commuting tenants.

Good local facilities will also be a draw for potential tenants. Lloyds bank released some figures recently about the effect your local supermarket can have on your property. The data shows that having a supermarket close by can increase the value of the property by an average of £22,000.

As you might expect, premium brand supermarket, Waitrose, leads the way potentially adding £38,666 to the value of a property, that is around 10 per cent higher than the wider town in which they are situated. But Sainsbury’s (£27,939), Marks and Spencer (£27,939) and Tesco (£22,072) also give significant premiums.

Even having a property near discount supermarkets Asda (£5,026), Lidl (£3,926) and Aldi (£1,333) show some increase in price compared to other houses in the wider town.

Although it is good to know that your property’s value improves when a new supermarket is built close by but this should reflect too on the amount of rent that you will be able to charge, the type of tenant you will be able to attract and the length of tenancy you will be able to secure.