Windsor Lodge, 42, Glentworth Crescent, SKEGNESS, Lincolnshire, PE25 2TG

A 20 room HMO residence, with live in managers accommodation
Parking area to the rear of the property
Flexible tenancy agreements & an AST for the managers accommodation
Rental income of just over £94,000 for year ending 5th April 2024

Description
A 20 room HMO residence with additional live in managers’ accommodation comprising two/three bedrooms, kitchen and a bathroom. The property has regularly operated at full/near to full occupancy and the current owner runs the property as a fully licenced House of Multiple Occupancy (HMO). The tenancies offer flexibility to both the landlord and tenant and the accounts for year ending 5th April 2024 show rental income of just over £94,000. At full occupancy, the property has scope to achieve an annual rental income of around £120,000. The tenants make a nominal payment of £5 per person, included in their rent, towards the cost of utilities. (copies of the tenancy agreements are available in the legal pack). The managers’ accommodation is occupied under an AST and a new agreement was signed in March 2023 with a rental amount of £700pcm. The Council has decided that the house is reasonably suitable for occupation by not more than the maximum of 27 persons in 20 households.

Agent note:
Included within the legal pack is a letter from the Senior Housing Standards Officer for East Lindsey District Council confirming that as long as the requirements detailed in the correspondence are met, they see no reason why a new HMO licence wouldn’t be issued. Buyers are advised to conduct their own enquiries and due diligence to satisfy themselves in relation to obtaining relevant licences and permissions.

Accommodation
Ground floor: porch, entrance hallway, 6 bedrooms, 2 lounge areas, 3 kitchen areas, boiler and utility room.
First floor: 11 bedrooms, a kitchen, 2 bathrooms and a WC.
Second floor: 3 bedrooms, kitchen and a shower room.

EPC: E

Council Tax Band: G

Tenure:
Freehold

Viewings:
No internal viewings available.


Important Notice:
For each Lot, a contract documentation fee of £1,500 (inclusive of VAT) is payable to Barnard Marcus Auctions by the buyer. The seller may charge additional fees payable upon completion. If applicable, such fees are detailed within the Special Conditions of Sale. Buyers are deemed to bid in full knowledge of this.

The Guide Price quoted must not be relied upon by prospective purchasers as a valuation or assessment of value of the property. It is intended to provide purchasers with an indication of the region at which the reserve may be set at the time of going to press. The guide price may be subject to variation and interested parties are advised to make regular checks for variations and should be aware that the reserve price may be either below or above the quoted guide price.

Prospective purchasers should also be aware that the eventual sale price may be above or below the guide level dependent upon competition, and should therefore not presume the guide to be indicative of the final expected sale price or the price the property is available at.

When setting the guide price, the auctioneers have given consideration to the seller’s instructions in respect of their indicated reserve price at the time of instruction. The reserve price, (the level below which the property will not be sold), remains confidential between the seller and the auctioneer. The guide price therefore, is intended to indicate the region at which the reserve price is intended to be set. The seller will confirm their final reserve price close to the auction date and if appropriate the auctioneers may adjust the guide price to reflect this.
Whilst Barnard Marcus make every effort to ensure the safety and security of viewers at properties, we have not carried out a detailed Health & Safety inspection of properties in our auctions and cannot therefore guarantee the safety and security of viewers.
Prospective purchasers and bidders attend properties entirely at their own risk. Particular care should be taken when accessing cellars, attics, exterior grounds and outbuildings and boundaries. All non-conducted inspections of vacant sites should be made in daylight hours only and entry into such sites is entirely at the viewers risk.


1. MONEY LAUNDERING REGULATIONS: Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.
2. General: While we endeavour to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property.
3. Photographs and Measurements: Some images may have been taken by a wide angled lens camera. These approximate room sizes are only intended as general guidance. You must verify the dimensions carefully before ordering carpets or any built-in furniture.
4. Services: Please note we have not tested the services or any of the equipment or appliances in this property, accordingly we strongly advise prospective buyers to commission their own survey or service reports before finalising their offer to purchase.
5. THESE PARTICULARS ARE ISSUED IN GOOD FAITH BUT DO NOT CONSTITUTE REPRESENTATIONS OF FACT OR FORM PART OF ANY OFFER OR CONTRACT. THE MATTERS REFERRED TO IN THESE PARTICULARS SHOULD BE INDEPENDENTLY VERIFIED BY PROSPECTIVE BUYERS OR TENANTS. NEITHER SEQUENCE (UK) LIMITED NOR ANY OF ITS EMPLOYEES OR AGENTS HAS ANY AUTHORITY TO MAKE OR GIVE ANY REPRESENTATION OR WARRANTY WHATEVER IN RELATION TO THIS PROPERTY.