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See how verdicts work4-bedroom flat · PE25 3LL
Listing removedReduced £1.9k (−2%) on 21 JunListed 511 days
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
Detailed Description A deceptively spacious flat being in a prime location overlooking Lumley road being less than a 10 minute walk from the beach and seafront.
The property comprises of kitchen, dining room, lounge, for bedrooms and bathroom.
The outside of the property is accessed from Prince George Street with off road parking and courtyard style outside space being ideal for flower pot and tubs.
With viewings available now - by appointment only Entrance: Having entrance door and stairs to kitchen.
Kitchen: 3.33m x 4.74m (10'11" x 15'7") , Having stainless steel single drainer sink unit with mixer tap over set in work surfaces extending to provide a range of base fitted storage cupboards under together with matching range of wall mounted storage cupboards over, tile splash backs to work surfaces, integrated four ring gas hob with integrated oven under, 'Ariston' gas water heater, space and plumbing for washing machine, space for fridge/freezer and fluorescent strip light.
Hallway: Having stairs to first floor landing, under stair storage cupboard and ceiling light point. Dining Room: 2.96m x 4.36m (9'9" x 14'4") , Having ceiling light point and archway to lounge.
Lounge: 4.37m x 3.64m (14'4" x 11'11") , Having television point, gas fire and ceiling light point. Bedroom One: 3.73m x 4.53m (12'3" x 14'10") , Having internet point and ceiling light point.
Stairs and Landing: Having gas wall heating, access to roof space and ceiling light point.
Bedroom Two: 3.26m x 4.36m (10'8" x 14'4") , Having built in wardrobes having railing and shelving, television point and ceiling light point.
Bedroom Three: 2.94m x 4.35m (9'8" x 14'3") , Having ceiling light point.
Bedroom Four: 1.98m x 2.76m (6'6" x 9'1") , Having ceiling light point Bathroom: 3.73m x 2.05m (12'3" x 6'9") , Having panelled bah with mixer shower over set in tile surround, close coupled wc, pedestal hand wash basin with tile slash back and ceiling light point.
Outside: Being accessed from Prince George Street with off road parking and courtyard style outside space being ideal for flower pots and tubs. Agents Notes: The tenure of the property is leasehold.
The property is leasehold with 99 year lease commencing 30/10/1980. The current ground rent/service charge (2025) is £50 pa.
Value & comps
No previous sales on record.
Returns
Set an offer; the calculator follows it.
We're still gathering serviced-accommodation data for this area.
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
Agent & docs
FAQ
About 5a, Lumley Road, Skegness
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