Gilmore Road, London
London
£389,000Guide Price
Listed on 24/10/2026
Listed on 24/10/2026
The listing
Property details
Bedrooms
2Type
Block Of ApartmentsArea
693 sqftFeatures
- Garden
Description
Offered at auction, this freehold two-storey building is arranged as two self-contained one-bedroom flats and is being sold with vacant possession. The ground-floor flat has a reception room, kitchen, bathroom/WC and rear garden; the first-floor flat has a reception room, kitchen and bathroom/WC. The listing describes the property as requiring updating and notes possible further development, subject to the necessary consents.
The building is on Gilmore Road, with amenities in Lewisham, Greenwich Park and Catford identified nearby. Transport options include local bus routes, rail and DLR services from Lewisham, and road links via the A205 and A20. The stated EPC ratings are D for the ground-floor flat and C for the first-floor flat, with Council Tax Band B for each.
The auction particulars state that a contract documentation fee of £1,800 including VAT is payable by the buyer, and that other seller fees may apply under the special conditions. Buyers should review the legal pack and verify the accommodation, services, condition and any development proposals before bidding.
WHOTS analysis
Our WHOTS verdict
An internal assessment of the opportunity to acquire, improve and create value.
51out of 100
Grade DWeak opportunity
Confidence: MEDIUM
This freehold building offers a distinctive project: two self-contained flats with vacant possession, dated finishes to update and an overgrown rear garden to reclaim. The visible brick exterior appears generally intact, while the listing also mentions possible rear-area or loft conversion, subject to consents. At £561/sq ft, the guide price is about 4.9% below the local average, which is supportive for a project buyer. However, purchase plus the £40,000–£70,000 refurbishment range looks tight against local benchmarks; that comparison is not a renovated valuation. Bidding can take the hammer above the guide, so the eventual price may not stay this cheap.
Key opportunities
- Update the dated finishes across the photographed interiors, including the older kitchen and bathroom fittings.
- Clear and improve the overgrown rear garden and side area.
- Explore the listing’s suggested rear-area or loft/mansard conversion potential, subject to consents.
Key risks
None recorded.
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Finance
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Illustrative repayments based on the asking price, not a mortgage offer.
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Current average 2-year fixed rate is 4.45%
Current average variable rate is 6.60%
Monthly Repayments
£1,470
Based on a loan of £291,750 over 30 years at 4.45% 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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