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Mill Lane, Addlethorpe, Skegness

East of England

£230,000
Listed on 25/03/2026

Property Details

Bedrooms
N/A
Type
Character Property
Area
2586 sqft

Description

This property presents a distinctive chance to acquire a versatile commercial space, featuring warehouses, storage areas, office facilities, retail space, and ample parking. Historically functioning as a country store with manufacturing capabilities for feed production, it has recently been used primarily for storage. The premises include a Grade II listed windmill that dates back to around 1830 and spans three floors, offering an interesting focal point for potential development. Located just three miles from Ingoldmells beach, the site benefits from proximity to local amenities such as pubs and restaurants. There exists significant potential for redevelopment or continued use in various commercial capacities—including retail or hospitality—subject to securing the necessary planning permissions. This offers investors an affordable entry into a property with historical significance and considerable scope for enhancement.

Investment Analysis

(PE24 area)

Below Market Value

This property is priced -60.5% below area average per sq ft

-60.5%
Potential saving
This Property
£89/sq ft
Area Average
£225/sq ft

Renovation Potential

Medium Refurb
Est. Renovation Cost
£80,000 - £120,000
Target Value
£641,031
10% above area average per sq ft
Potential ROI
+83.2%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
14
Average per month
Market Turnover
52%
Properties sold annually

Local Market Trend (PE24)

Area prices are stable by +1.9% over the last 12 months
3 year growth: -4.4%
5 year growth: +23.8%
Investment Disclaimer: Analysis based on PE24 area averages and may not reflect property-specific factors like condition, exact location, or unique features. Any renovation cost estimates provided are AI-generated and should be considered indicative only. Renovation costs vary significantly based on property condition and scope of work. Always conduct professional surveys and get multiple quotes before making investment decisions.

Location

Mill Lane, Addlethorpe, Skegness
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Mortgage Calculator

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£
£
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years

Current average 2-year fixed rate is 4.06%

Current average variable rate is 6.81%

Monthly Repayments
£830
Based on a loan of £172,500 over 30 years at 4.06% interest

These results are estimates and are only intended as a guide. Make sure you obtain accurate figures from your lender before committing to any mortgage. Your home may be repossessed if you do not keep up repayments on a mortgage.

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