Summary - 98, Wainfleet Road, SKEGNESS PE25 3RQ
6 bed 1 bath Semi-Detached
Auction opportunity with tenant in situ and clear refurbishment upside.
Six bedrooms across three storeys, strong room sizes and period features
Very large rear garden and substantial overall plot
Currently let at £502.67pcm; apparent rental uplift potential
Sold at auction; buyer pays £3,600 administration fee on exchange
Cavity walls assumed uninsulated — thermal upgrades likely required
Single bathroom only; may limit modern rental demand without alteration
High local crime and very deprived area — affects tenant risk and yield
EPC D and council tax band A (low running costs)
This substantial six-bedroom, three-storey Edwardian semi sits on a very large plot in Skegness and is offered for sale by online auction. Period features, high ceilings and large rooms give genuine character, while later double glazing and mains gas central heating provide practical comfort. The property is freehold and currently let, producing a below-market income that could be increased following refurbishment.
An investor will be drawn to the income uplift potential: similar six-bedroom properties nearby can generate around £15,000pa, versus the current tenant rent of £6,032pa. The house has straightforward room layouts across ground, first and second floors and benefits from good mobile signal and fast broadband — useful for renting or multi-occupancy conversions. EPC rating D and council tax band A keep running costs relatively low.
Buyers must factor in material considerations. The building dates from 1900–1929 and has cavity walls with no installed insulation (assumed), so thermal upgrades will be needed to improve efficiency. There is only one bathroom, the property sits in a very deprived area with high local crime levels, and it is sold with a tenant in situ. An administration fee of £3,600 (inc VAT) is payable on exchange and full legal pack details should be reviewed prior to bidding.
This is a clear renovation-and-renting opportunity for an investor or landlord prepared to manage refurbishment and tenancy. The auction timetable is fixed; interested parties should review the legal pack, confirm outgoings, and factor refurbishment and management costs into any offer.
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