Flat
An investment opportunity to acquire a 3 double bedroom flat currently generating a handsome income in excess of £27,600 per year offering a gross return in excess of 10% against the guide price.
This property comes Licensed and HMO approved for 3 individuals making it an extremely lucrative investment within an extremely sought after London postcode.
Located just a short walk from Bermondsey tube station and a multitude of local amenities, shops, restaurants and cafes this property will be very appealing for new tenants.
The property has been recently refurbished by the current owner to include a new boiler and is in good condition. Within the flat there are 3 double bedrooms, kitchen, bathroom with additional WC, as well as a balcony off bedroom 1. This flat is located on the 6th floor.
The current tenants started their ASTs Feb 1st 2025 and run for 12 months, please see legal pack for full details.
The seller has informed us the service charge is £2,330.42 from Apr 2025 - Mar 2026 and is reviewed annually. The ground rent is £10 per annum. Any ground rent and service charge review periods will be confirmed in the lease documents within the legal pack.
Prospective buyers are to note that the legal pack does not include a leasehold sale pack and are advised to make all necessary independent enquiries prior to placing their bid as this will be binding.
Please be advised the auctioneers have not personally inspected the property. Prospective buyers are advised to make any necessary independent enquiries before placing their bid, as this will be binding.
Leasehold. Subject to tenancy.
£10
90
£2,330
Auction Details
The sale of this property will take place on the stated date by way of Live streamed auction and is being sold under the Unconditional sale type.
Binding contracts will be exchanged at the point of sale.
All sales are subject to our Common Auction Conditions and Bidder Terms. Properties located in Scotland and Northern Ireland will be subject to applicable local laws.
Auction Deposit and Fees
The following deposits and non- refundable auctioneers fees apply:
• 5% deposit (subject to a minimum of £5,000)
• Buyer’s Fee of 4.8% of the purchase price (subject to a minimum of £6,000 inc. VAT)
There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. You must read the Legal Pack carefully before bidding.
Additional Information
For full details about our auction processes, please refer to the Bidder Terms which can be viewed on our home page.
This explains the types of auction and sale methods we offer, the bidding registration process, your payment obligations, and how to view the Legal Pack (and any applicable home report for residential Scottish properties).
Guide Price & Reserve Price
Each property sold is subject to a Reserve Price. The Reserve Price will be within + or - 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Buyers Terms.
