Invest in Skegness – Investment opportunity at iconic holiday resort

Skegness Foreshore| Published in Commercial on 11 November 2021 by our Marketing Team

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Pygott & Crone are pleased to announce a unique opportunity to invest in Skegness; one of the UK’s fastest growing and much-loved coastal resorts situated on the East Coast.

As the appointed sole agents, we are welcoming expressions of interest by 10th January 2022 for three key strategic potential development sites located on Skegness Foreshore. There is a wide range of suitable planning uses across all three sites; and this forms part of a new Investment Plan and vision for Skegness that is being led by East Lindsey District Council together with the Connected Coast Board.

East Lindsey District Council is committed to supporting and enabling these developments on Skegness Foreshore and is seeking investors who share their vision. £2 million match funding is on the table, and long-term leasehold opportunities are available.

The three potential development sites

LOT 1: 7,250 sqm Southern Bowling Greens – identified as suitable for the provision of flexible space for mobile investments
LOT 2: 15,600 sqm Southern Boating Lake – identified for the construction of a new pavilion structure overlooking the lake
LOT 3: 1,400 sqm Pier Field Chalets – identified for the development of a new food & drink offering

However, we welcome all enquiries and use classes to put forward their expressions of interest for consideration. Please see the prospectus for full details.

Click on a photo to enlarge:

Skegness, the quintessential British seaside resort, has enormous untapped commercial potential and, with increasing financial support and renewed commitment from HM Government, this represents a major opportunity for investors to join East Lindsey District Council & Connected Coast on their journey and work with them to realise their vision and the true potential of this iconic seaside resort.

Key facts and stats

Estimated £699.48 million economic impact of East Lindsey’s visitor economy
7,110 jobs directly supported by the sector (c. 17% of total employee jobs in the East Lindsey district)
The largest areas of visitor expenditure are on local shopping (21%) and food & drink (19.6%)
The district attacted 9.769 million overnight stays, and an additional 2.939 million day visitors; 85.5% of all overnight stays were spent in non-serviced accommodation
Staying visitors provude an average spend of £60.18 within the local economy, as opposed to £37.94 for day visitors

Source: East Lindsey District Council 2019 annual STEAM data

Download the prospectus

East Lindsey District Council have produced a full investment prospectus which you can download here. This contains all of the key information that you will require:

An overview of Skegness Foreshore
Full details of the lots available
The story so far on the development of the resort
Analysis of the local markets
Information on the key stakeholders
Development considerations
Requirements for submissions of expressions of interest
Timeline for selection

Please do get in touch with any queries, details below.

Expressions of Interest & Further Information

The deadline for Expressions of Interest is 10th January 2022 and should be submitted to the Pygott & Crone Commercial office at 21 The Forum, North Hykeham, Lincoln, LN6 8HW. The key contact for this opportunity is Jasper Caudwell, chartered surveyor at Pygott & Crone, who will be pleased to answer any queries that you may have about Skegness Foreshore – call 0330 128 0939 extension 1133. You may also email expressions of interest to him at jcaudwell@pygott-crone.com