1 Donegal, High Street, Skegness, Lincolnshire, PE24 5PP

Description

Beautifully presented and offering a versatile investment opportunity, this substantial property is arranged to provide two self-contained flats together with an additional bedsit comprising a bedroom and en-suite shower room. It could suit holiday letting, multi-generational living or an owner looking to live in part of the property while generating an income. Depending upon the occupancy rate for a holiday let style investment, there is scope to achieve around £40,000+ per annum. Offered for sale with the benefit of vacant possession.

Accommodation

Ground Floor: entrance hall, lounge/diner, breakfast kitchen, three bedrooms and a bathroom, together with an additional bedsit with an en-suite shower room. First Floor: two-bedroom flat comprising kitchen/living/dining, two bedrooms and a bathroom. External: private and secure garden to the rear.

Location

High Street, Skegness, Lincolnshire.

Tenure / Property Information

Investment Analysis

No completed sales or specific market valuation evidence is supplied, so GDV and a supported maximum bid cannot be established. The £165,000 guide is the only purchase reference. The auctioneer indicates around £40,000+ annual income for holiday-let-style use, but this is an estimate dependent on occupancy and is not a passing rent or achieved rental evidence.

Investment Snapshot

Strategy Recommendation

Proceed only as a cautiously underwritten holiday-let or multi-unit income opportunity, subject to verifying the £40,000+ income estimate, lawful use, condition, compliance and all special-condition costs. Do not rely on a BRRR or flip strategy without independent valuation evidence.

Works Required

No specific refurbishment works are evidenced; the property is described as beautifully presented. Confirm condition, heating, parking, statutory compliance and the suitability of the flats/bedsit for the intended letting strategy.

Rental & Market Context

Potential BRRR Position

A BRRR analysis cannot be completed because no supported GDV, refurbishment budget or refinance valuation is provided. The known guide price and £1,800 documentation fee are insufficient to calculate total project cost or post-refinance cash position.

Buy-to-Let Analysis

Using the auctioneer's indicative £40,000+ annual holiday-let income, the gross income yield on the £165,000 guide is approximately 24.24%. This is not conventional assured-tenancy rental evidence and depends on occupancy, so net income and a reliable long-term BTL yield cannot be established. The £1,800 inclusive VAT contract documentation fee is known, while other seller charges are only possible and unspecified.

Flip Analysis

A flip surplus cannot be calculated because no completed-sale comparables, GDV or supported selling-cost allowance is supplied. The description indicates a presented property, but resale value and any value created remain unverified.

Investor Risks & Due Diligence

• The £40,000+ annual figure is an auctioneer estimate dependent on holiday-let occupancy, not achieved or passing rent.

• No sufficiently specific external rental comparables are supplied.

• No completed-sale evidence or supported GDV is available.

• Refurbishment and compliance costs cannot be assessed from the evidence provided.

• Council tax is listed as TBC and later Deleted.

• Parking and heating details require confirmation.

• The seller may charge additional completion fees under the special conditions, but the amount is not supplied.

• Potential holiday-let or multi-unit use should be verified before relying on the stated income.

Recommendation

Proceed only as a cautiously underwritten holiday-let or multi-unit income opportunity, subject to verifying the £40,000+ income estimate, lawful use, condition, compliance and all special-condition costs. Do not rely on a BRRR or flip strategy without independent valuation evidence.

Strategy Rating

Analysis Confidence

The property configuration, tenure, vacant possession, guide price, one known fee and an auctioneer income estimate are supplied, but there are no sales comparables, specific rental comparables, GDV, works budget, council tax, heating or complete fee details.