South Norwood Hill, London SE25
London
£190,000Guide Price
Listed on 02/09/2026
Listed on 02/09/2026
The listing
Property details
Bedrooms
2Type
FlatArea
470 sqftFeatures
- Garage
- Tenanted
Description
This two-bedroom apartment is offered at auction with an existing assured periodic tenancy at £1,400 per calendar month. The listing states that notice has been served for vacant possession on 3 November 2026; buyers should check the tenancy and possession details in the legal pack. The apartment is described as requiring modernisation, with scope to update the accommodation over time, subject to any necessary consents.
The flat is in a residential block with entry-phone access and a lift, and the sale includes a garage in a block. The lease has 933 years remaining, with a stated annual service charge of £2,400 and ground rent of £25. Norwood Junction station is approximately 0.7 miles away, with local bus routes and amenities in South Norwood and Crystal Palace also within reach.
The online unconditional auction is scheduled for Thursday 29 October, with a six-week completion period. A buyer charge of £1,650 including VAT applies, and further fees may be payable under the legal pack. Prospective bidders should review the legal documents and confirm the auction terms before bidding.
WHOTS analysis
Our WHOTS verdict
An internal assessment of the opportunity to acquire, improve and create value.
49out of 100
Grade ELow opportunity
Confidence: LOW
At £190,000, this two-bedroom flat is priced below the local average per square foot, making the entry price a clear opportunity. It also offers a very long lease, a garage in the block, shared parking and green space, and current rental income of £1,400 per month. The listing says it would benefit from modernisation, giving a buyer scope to improve it over time; the exterior views look generally intact, though the shared paving is worn and cracked.
The overall score is low because the available information does not establish the renovation economics, and the interior condition cannot be assessed from the photos provided. It is being sold by auction at a guide price: bidding can take the hammer above the guide, so the eventual price may not stay this cheap. The tenancy and stated possession date, along with the service charge, are important to check in the legal pack.
Key opportunities
- Acquire below the local average £/sqf, with current rent of £1,400 per month.
- Modernisation offers scope to improve the flat over time.
- Very long lease, garage in the block, and green space around the residential block.
Key risks
- The £2,400 annual service charge affects ongoing costs; check the full terms in the legal pack.
- Confirm the tenancy, possession notice and stated vacating date through the legal pack.
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Current average 2-year fixed rate is 4.45%
Current average variable rate is 6.60%
Monthly Repayments
£718
Based on a loan of £142,500 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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