18 Cross Street, Skegness, Lincolnshire PE25 3RH

Description

A traditionally constructed end of terrace house, ideal for investors, benefitting from an ongoing regulated tenancy at £480pcm (£5760 per annum) effective from 24 January 2026. This property offers an ideal ‘ready to go’ investment opportunity.

Accommodation

Ground Floor: Entrance, Sitting Room, Dining Kitchen, Family Bathroom. First Floor: Bedroom 1, Bedroom 2. Second Floor: Bedroom 3. Outside: Rear garden. At the time of preparing these details, no internal inspection was possible; accommodation is believed to comprise as stated.

Location

The property is situated on Cross Street, Skegness, central to a wide range of facilities and amenities including the sea front, promenade and leisure facilities. Skegness is a popular seaside resort with many thousands of holiday makers year by year and offers access to the coastal towns of Lincolnshire.

Tenure / Property Information

Investment Analysis

Completed sales on the same street range from £65,000 to £105,000: £65,000 in October 2025, £69,000 in March 2025 and February 2025, and £105,000 in June 2026. Given the repeated £69,000 evidence and the unexplained variation, £69,000 is used as the base GDV, with £65,000 low and £105,000 high scenarios. The subject has not been internally inspected, so condition differences cannot be assessed.

Investment Snapshot

Strategy Recommendation

Potential income-led BTL acquisition only if the regulated tenancy, legal pack and property condition are satisfactory. Do not bid on the basis of a flip or BRRRR profit without internal inspection and a quantified works budget.

Works Required

No evidence-based refurbishment allowance can be given because no internal inspection was possible. Verify the stated accommodation, condition and EPC G implications before bidding; any works should be specified only after inspection and legal-pack review.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A 75% refinance against the £69,000 base GDV indicates £51,750 of gross refinance proceeds. The strategy cannot be fully assessed because internal condition, refurbishment cost, legal-pack costs and finance costs are unknown. The regulated tenancy and EPC G rating require particular due diligence.

Buy-to-Let Analysis

At the £35,000 guide, the existing £480pcm regulated tenancy produces £5,760 annual rent and a gross yield of 16.46% before fees, works, finance, tax and other costs. On the £69,000 base GDV, the rent equates to approximately 8.35% of value. No sufficiently specific external rental comparable is available, and the tenancy terms should be checked in the legal pack.

Flip Analysis

The £69,000 base GDV is supported by same-street completed sales, but no reliable flip surplus can be calculated because refurbishment costs, completion costs, selling costs and the property’s internal condition are unknown. The £105,000 comparable is materially above the other evidence and should not be relied upon without understanding the difference.

Investor Risks & Due Diligence

• No internal inspection was possible, leaving condition and actual accommodation unverified.

• Current EPC rating is G; the cost and feasibility of any required improvement are unknown.

• The property is subject to an ongoing regulated tenancy, and the full tenancy terms require legal-pack review.

• The £65,000 to £105,000 same-street sale range is wide and the reasons for the variation are unknown.

• The £3,600 administration charge is known, but disbursements and possible additional special-condition fees are not quantified.

• No sufficiently specific external rental comparable has been identified.

Recommendation

Potential income-led BTL acquisition only if the regulated tenancy, legal pack and property condition are satisfactory. Do not bid on the basis of a flip or BRRRR profit without internal inspection and a quantified works budget.

Strategy Rating

Analysis Confidence

There is useful same-street completed-sale evidence and a stated passing rent, but no internal inspection, no external rental comparables, no refurbishment estimate and incomplete auction-fee information.