Major investment opportunity as three key Skegness foreshore sites go on market

A major investment opportunity has been unveiled as three key sites along Skegness foreshore being put up for sale.

Artist's impression of plans for the boating lake. Photo: Pygott & Crone

The sites have been put up for sale by East Lindsey District Council and agents Pygott & Crone are welcoming interest by January 10, 2022.

The first space - a 7,250 square metre site on the Southern Bowling Greens with road frontage to South Parade and Princes Parade adjacent to the main vehicular access to the Festival Car Park - has been identified as is a flexible space for mobile investments.

A 15,600 square metre area at Southern Boating Lake - including the central island) and surrounding walkways, internal bridges and terraced seating areas; - would be for constructing a new pavilion structure that overlooks the lake.

Two of the plots of land available at the Skegness foreshore. Photo: Pygott & Crone

Finally, a 1,400 square metre plot on the Pier Field Chalets - currently comprising a suite of 24 disused former chalets and facilities - has been identified for developing a new food and drink area.

The proposals will be supported by East Lindsey District Council, with £2 million match funding and long-term leasehold opportunities on the table..

It was in December 2018 that East Lindsey District Council first revealed its masterplan for the foreshore and since then as the area became more neglected there have been numerous rumours of what the areas could be used for, including car parks and another national chain hotel.

Phase one has included the pedestrianisation of Tower Esplanade and refurbishment of the Rockery Gardens and ELDC has also committed £3.1million to deliver a newly consented 16 luxury holiday lodge development off South Parade.

Pier field chalets have been identified as a new food and drink area.Photo: Pygott & Crone

In partnership with Magna Vitae, the District Council has also funded the installation of the new Altitude 44 attraction, Café Magna and VIP Lounge within the Embassy Theatre.

The projects for phase two come after Skegness was awarded £24 million by Central Government. The Towns Fund offer provides an allocation of up to £2million in public funds to deliver these aspirations on land which is already in council ownership

Portfolio Holder for the Coastal Economy Coun Steve Kirk, who launched the original masterplan, said: "As a local business owner and having lived with my family in Skegness for the last 40 years and supported many different partnership opportunities in that time to improve our local communities, I am absolutely delighted to present this investment prospectus.

"Having established our vision for the future of the Skegness Foreshore with our local business and communities back in 2018, we have already witnessed many examples of new investment coming forward by both the public and private sector to enhance the overall setting and range of attractions.

"I am incredibly proud of how this investment has already transformed the resort and how well our local communities, business and visitors have supported the town to bounce back so positively from the disruption of Covid-19.

"This summer has quickly seen the Foreshore return to unprecedented levels of demand and visitor footfall and we expect those trends to continue for many years to come in line with the previous year on year growth of visitor numbers and expenditure within the local visitor economy. In releasing three new Foreshore lots for development our passion and commitment to bringing forward continued investment into one of the UK’s most loved and fastest growing resorts remains unabated.

"Through this call for expressions of interest, the Council is seeking investors who share our vision and commitment for bringing new excitement, interest and audiences to Skegness.

"This desire is matched by a commitment from us to put forward £2million of match funding investment and negotiate long term commercial terms with our preferred development partners to realise the fantastic opportunities to help make the heart of Skegness beat even louder.

For more details, visit Pygott & Crone’s prospectus for full details.