2-bedroom flat · PE25 3HB
Sold STCListed 174 days
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
Detailed Description A very tidy and well maintained first floor flat tucked away behind Drummond Road with convenience stores and shops only 1 minute away with the countryside/beach only 5 minutes walk away.
The flat offers good sized accommodation including two bedrooms, shower room, large lounge/open plan kitchen + a wide hallway with study area. Benefits include electric heating & double glazing.
Viewings available now - by appointment. Entrance: The apartment is approached via outdoor stairs to the side of the property.
You enter through a Upvc half double glazed door into the outer hall with tiled floor that leads to; Inner Hall: This spacious area has room for a desk or seating and benefits from, ceiling light, electric panel wall heaters.
Storage Cupboard:- with plumbing for automatic washing machine and doors leading to- Open Plan Lounge, Kitchen And Diner: 4.29m x 5.84m (14'1" x 19'2") , Kitchen Area- Has part tiled splashbacks, fully tiled flooring, a range of white base units with worktop over, white wall cupboards, cupboard housing (replaced) electric water heater, plumbing for washing machine, stainless steel sink and drainer electric panel heater, opaque window to the side elevation with newly installed window shutters and plenty of sockets, electric oven, electric hob with filter hood over, Lounge/Dining Area- Has electric panel heater, opaque upvc double glazed window to the side and front elevation all with newly installed window shutters, air ducts through the upper room, centre spot lights and feature light.
Shower Room: 1.98m x 1.90m (6'6" x 6'3") , Small opaque upvc double glazed window to the front elevation, stainless steel towel radiator, vanity sink, low flush wc, replaced/re-fitted corner shower unit with Mira electric shower therein, part tiled walls, fully tiled floor and ceiling air vent.
Bedroom One: 3.91m x 2.44m (12'10" x 8') , Opaque double glazed Upvc window to the side elevation, electric panel wall heater, ceiling light and built in cupboard housing a small water cylinder/heater (replaced 2026).
Bedroom Two: 2.87m x 2.16m (9'5" x 7'1") , Upvc double glazed glass window to the side elevation, electric wall panel heater, sockets, ceiling light.
Outside: There is a small patio area just outside the apartment entrance where you can put seating or pot plants.
Property Access Notes:: Please note this flat is tucked in a secluded location with access gained via a service road directly off Clifton Grove.
The building has a sign labelled 'Willcliffe Flats 1,2 & 3' with steps leading up the side of the building to a flat roof area. This flat is the first door on the right hand side.
Tenure: The tenure of the property is Leasehold. The agents understand approximately 112 years remain on the lease.
The current ground rent/service costs are: Ground rent £250 per year Buildings insurance approx £180 per year (although this figure can vary depending on necessary costs for the building) The agents understand the main flat roof has recently been replaced by the landlord.
Value & comps
No previous sales on record.
Returns
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Archie refurb estimate: a Pro feature
0.0% below asking
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Deal
Properties like this can earn 2–3x BTL yields when converted to HMO, with retrofit costs around £10k/room. Sign in to see the full tier, yield projection, and cost breakdown.
Commercial properties like this can earn 30-50% higher yields when converted to residential under Class MA / Q / P / PA, with prior approval costing ~GBP 96/unit. Sign in to see the recommended route, yield uplift, and cost breakdown.
BRRR-suited properties can recycle 80-100% of investor capital on refi, leaving a high-yielding rental with most of the money out. Sign in to see the refurb cost stack, ARV projection, and refinance maths.
Detached + large garden = sub-division play. Pro tier unlocks the tier badge, plot size, uplift estimate, and regional land benchmark.
Short-lease flats trade at deep discount, but extending under the 1993 Act often costs far less than the discount. Pro tier unlocks the tier badge, premium breakdown, long-lease ARV and arbitrage maths.
See projected short-stay revenue vs a vanilla BTL for this property.
See real sub-let margins (HMO room rates & SA nightly rates) vs the landlord rent.
Area
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FAQ
About Flat 1 Willcliffe, Clifton Grove, Skegness
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