5 Scarbrough Avenue, Skegness PE25 2SZ

Description

A wonderful opportunity to acquire this detached family house, offered for sale in need of full refurbishment and improvement throughout, but benefitting from versatile accommodation. The property offers significant scope to add value and may be suitable for redevelopment into self contained apartments, or a serviced accommodation style setup, subject to the relevant consents being obtained.

Accommodation

Ground Floor: Entrance Porch; Entrance Hall; Lounge; Kitchen; Dining Room; Utility Room. First Floor: Bedroom; Bedroom; Bedroom; Shower Room; WC; Kitchen/Potential Bedroom. Outside: Gardens to front and rear.

Location

The property is situated on Scarborough Avenue, Skegness, a popular and central area of this Lincolnshire coastal town, well served by a wide range of facilities and amenities, along with convenient access to the sea front, promenade and beach. Skegness is a popular tourist destination, ideal for holiday makers.

Tenure / Property Information

Investment Analysis

The closest evidence is a £220,000 completed sale of a detached freehold property on the same avenue in June 2026. This supports a provisional base GDV of £220,000, but the comparable is not confirmed identical and the subject requires full refurbishment. No supported low/high GDV scenarios can be established.

Investment Snapshot

Strategy Recommendation

Do not bid until a refurbishment survey, detailed cost plan, legal-pack review and confirmation of any proposed conversion consents are obtained.

Works Required

Full refurbishment and improvement throughout, based on the description. Any apartment or serviced-accommodation conversion requires relevant consents, which are not evidenced.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A provisional £220,000 GDV implies 75% refinance proceeds of £165,000. The strategy cannot be reliably underwritten because refurbishment costs and total project cost are not supplied.

Buy-to-Let Analysis

One advertised asking rent of £760 pcm supports annual asking rent of £9,120. Using the £150,000 midpoint of the guide range gives an indicative gross yield of 6.08% before refurbishment, purchase costs, finance and operating costs. Achieved rent is not evidenced.

Flip Analysis

The provisional GDV is £220,000, but refurbishment costs, selling costs and a reliable resale surplus cannot be calculated. The £3,600 buyer premium and admin charge are known, with possible further disbursements under the legal pack.

Investor Risks & Due Diligence

• Full refurbishment is required, but no cost estimate is supplied.

• Apartment or serviced-accommodation use is subject to relevant consents.

• The rent is an advertised asking rent rather than achieved or passing rent.

• The auction guide is £125,000–£175,000 plus fees, and further legal-pack disbursements may apply.

• The comparable sale is a different property and may not be directly equivalent.

Recommendation

Do not bid until a refurbishment survey, detailed cost plan, legal-pack review and confirmation of any proposed conversion consents are obtained.

Strategy Rating

Analysis Confidence

There is one recent same-street sale and one advertised rent, but no refurbishment cost evidence, detailed condition survey, confirmed floor area, parking/heating information or legal-pack disbursements.