Robert Bell & Company says ..

Property Oracle says ..

This property in Skegness, Lincolnshire, presents an intriguing investment opportunity. The listing describes it as a multi-unit property comprising five residential flats and two holiday flats, alongside a café/tea room. Its location near the seafront is a definite asset, providing high potential for rental income, especially targeting the tourist market. The presence of a garden and multiple external seating areas is a positive addition, offering further potential revenue streams.

The interior images show a range of accommodation, some of which requires significant modernisation, with some flats appearing more dated than others. The café/tea room requires full refurbishment and fitting before being useable. While the existing structure seems sound, potential buyers should budget for renovation costs. The lack of specific plot size measurements for the entire property makes a full valuation challenging.

The listed price of £439,950 needs to be carefully considered against the projected rental income and renovation expenses. A detailed financial projection, including rental market analysis for Skegness and the costs of renovating both flats and the cafe/tea room, is essential before making any investment decision. Proximity to local amenities, such as schools and a train station, further adds to the property’s appeal. However, more detail is needed on the property’s overall condition, financial history, and potential future rental income to make a thorough assessment.

Therefore, we give this property 6 / 10. *Disclaimer: This is our option and does constitute a recommendation or financial advice. Do your own research. *

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