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11 bedroom block of apartments for sale

Ida Road, Skegness


11 bedroom block of apartments for sale

Ida Road, Skegness



Property features

  • Well established holiday accommodation business
  • 11 Self catering letting units
  • Excellent location
  • Car park to rear

Property description

This is a rare opportunity to invest in a well established holiday accommodation business that has been established for over 45 years. Lyndene has been under the same family management for the past 40 years. Similar to a book, please do not judge this property "by its cover". It is extensively larger than its exterior suggests and was extended considerably in 1979. The internal corridors, reception and staircase are very inviting and the Edwardian architecture, while fully modernised has been preserved to reflect the quality of latter day development. Thus viewing internally is highly recommended.The accommodation comprises a portfolio of 11 self-catering letting units, 10 of which are fully self-contained, the 11th having its own private bathroom (not en-suite).

3 Self-contained en-suite studio apartments (each 2 persons).1 Studio apartment with exterior bathroom (3 persons).1 Self-contained en-suite studio apartment with adjacent singe bedroom (3 persons).2 Self-contained apartments comprising lounge and bedroom (each 3 persons).4 Self-contained 2 bedroom apartments. ( each 4 persons)Total accommodation: 34 persons (could be extended).

The business has an advantage of offering accommodation for parties of one person upwards, thus the range is very flexible for all types of visitors and budget.Lyndene Holiday Apartments are marketed extensively via the Internet coupled with telephone and web-site live booking systems. Of late International business has steadily expanded, which coupled with business and traditional holiday reservations have provided excellent demand. Internet On-line reviews are positive and very encouraging. The accommodation may be described as quality budget accommodation.

The property, built in 1904, has been well maintained by the current owner, and by previous owners. Most windows have been replaced with uPVC double glazed units and is on-going project. The frontage is stone-clad, thus providing an inviting facade. The construction is solid reflecting the quality of building in that period.Business Wi Fi is provided and is accessible in all units. The location is excellent providing good access to all amenities in a quiet residential area.

Fire Precautions:
A certified 4 zone fire alarm has been installed fully conforming to current regulations (above specification). Fire doors, fire call points, alarms, heat / smoke detectors, emergency lighting, fire fighting equipment are fitted. All ceilings have been upgraded by the installation of 12 mm plaster board providing additional fire resistance. Following a recent mandatory visit for a local fire officer, all systems fully satisfied the officer and no mandatory work was required.

Heating & Lighting:
Each letting unit is individually zone controlled for both electric supply and gas fired central heating. The business enjoys all year round demand, thus heating costs are efficiently kept as economical as possible as only let units are heated.All lighting is by LED or florescent fittings.

CCTV is installed with cameras monitoring key locations. The CCTV system may be linked to the adjacent router, providing remote Internet access.A security alarm system is installed and monitors key areas against intrusion.

Easy maintained gardens and forecourt are very popular with residents. A large lawn is located at the rear of the property with garden furniture and barbeque for resident's use. The rear is secured by key-coded gates and high walls and conifers. Thus a safe area is provided for guest's children and is secure against intruders.A gravel rear car park provides off-road parking.

The benefits of a self-catering business:
Accommodation of this nature provides an owner an ability to enjoy more free time than with serviced accommodation (guesthouse / hotel) business. With no meals to prepare, work load is considerably reduced - no need to wake at 6.00 am to cook breakfasts or to wash dishes at 8.00 pm after serving evening meals! The business also enables an owner to pursue other employment or business interests. Owners with children benefit greatly due to a far lower and less demanding life style than that of serviced accommodation. Due to no food preparation, self-catering establishments are void of food management legislation and associated expenditure and mandatory qualifications.The current management does not reside on the premises and the business functions very well remotely. Late arrivals have access to a small wall safe for keys, or are simply requested to telephone on arrival and are met on the premises. The popularity of mobile telephones has greatly simplified problems relating to remote management.New owners may well choose to live on the premises and would have a wide choice of accommodation to choose from. Resident owners would have an advantage to receive "doorstep" enquiries and reservations, thus turnover may not be severely retarded if a unit is taken for owners private accommodation. Similarly, it could be possible for two families to invest in this property, thus sharing the investment and work load.

The Future:
As many of the larger commercial hotels adopt the American style "Room Only" accommodation, Lyndene is fully prepared to compete on this basis. Many visitors prefer the freedom to explore local restaurants, take-aways, or to prepare their own food at leisure. Due to all units being fully equipped with kitchen facilities competing on room only basis is no problem. The price difference between serviced and self-catering accommodation has narrowed in recent years and holiday apartments no longer reflect a poorer accommodation sector. Internet marketing has resulted in improved quality standards, higher demand and an acceptance of higher prices. This should continue well into the foreseeable future. There is flexibility to introduce further new ideas, marketing techniques and systems that could develop the business further. For example, optional breakfast service could be considered and / or drinks license applied for (subject to creation of a bar area).

The vendors advise that the profit last year was £45,000. It is understood that there is potential to grow the business further although we have not seen accounts but these can be made available to interested parties.

Viewing is strictly by appointment with the Skegness Office at the address shown below. View our properties online at: or www.( ... )

The property is Freehold with vacant possession upon completion. Local authority: East Lindsey District Council, Tedder Hall, Manby Park, Louth, Lincs, LN11 8UP. [use Contact Agent Button].

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Property reference 4693073. The information displayed about this property comprises a property advertisement. makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Willsons - Skegness. Please contact the selling agent directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

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