2-bedroom flat · PE25 2BH
Listing removedReduced £3k (−3.6%) on 9 AugListed 248 days
Opportunity summary
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About
Detailed Description A well presented first floor apartment in this highly popular small purpose built development for the over 55's.
The location is ideal - literally a few steps from Roman Bank and the town centre with ships, amenities and restaurants as well as Tower gardens and the sea front.
The property comprises of hallway, lounge, kitchen, two bedrooms and bathrooms. Additional benefits include electric heating and uPVC double glazing.
Allocated parking available for a small fee per year. With no upward chain to worry about viewings are available now - by appointment only.
Entrance Hall & Stairs: Having uPVC entrance door, ceiling light point and stairs to first floor.
Hallway: Having access to roof space, two ceiling light points, electric radiator, built in airing cupboard housing hot water cylinder and built in double storage cupboard.
Kitchen: 2.87m x 2.92m (9'5" x 9'7") , Having stainless steel single drainer sink unit set in work surfaces extending to provide a range of base fitted storage cupboards and drawers under together with matching range of wall mounted storage cupboards over, tile splash backs to work surfaces, space for cooker, space for fridge, space for freezer, electric radiator and ceiling light point.
Lounge/Diner: 3.89m x 3.96m (12'9" x 13') , Having television point, electric radiator and ceiling light point.
Bedroom One: 3.51m x 3.94m (11'6" x 12'11") , Having electric radiator and ceiling light point. Bedroom Two: 2.72m x 2.90m (8'11" x 9'6") , Having electric radiator and ceiling light point.
Bathroom: 1.52m x 2.57m (5' x 8'5") , Having panelled bath with electric shower over set in tile surround, pedestal hand wash basin, close coupled wc and ceiling light point.
Outside: Outside the property benefits from an adjacent small integral store.
The property benefits from communal gardens Allocated parking available for a small fee per year (currently understood to be approximately £24 per year) Agents Notes: Sutton Court is a retirement development with any prospective buyers required to be of 55 years or older.
The tenure of the flat is understood to be leasehold with a lease of 999 years, commencing 1/6/1989.
The agents understand the ground rent and service/ maintenance charges to be Ground Rent - £162.34 per year.
Service charge £2478.39 per year, which includes:- Site manager 24 hour emergency contact Communal lounge & social activities Laundry Guest Rooms Garden/building maintenance
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
Agent & docs
FAQ
About 49, Sutton Court, Skegness
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