A generously proportioned two bedroom apartment with an existing tenancy in place, providing an appealing opportunity for investors seeking immediate rental income in a well-connected South London location. The property is currently let at £1,400 per calendar month, equating to £16,800 per annum, offering an attractive yield profile alongside scope for future value improvement.
The apartment provides spacious accommodation within a residential block, with the added benefits of entry phone access, lift service and a garage in a block. The apartment enjoys delightful scenic views and is held on a lease in excess of 900 years, giving purchasers long-term leasehold security. The property would benefit from modernisation, which may appeal to buyers looking to enhance the accommodation over time, subject to any necessary consents and tenancy considerations.
The property is well placed for the amenities of South Norwood and Crystal Palace, with a range of local shops, restaurants, cafés and everyday services within reach. Regular local bus routes provide convenient access across the surrounding area, while Norwood Junction Station is approximately 0.7 miles away and offers Mainline and Overground services into London.
Auction
To be sold by online auction (unconditional) on Thursday 27th August 2026 with a 6 WEEK COMPLETION, bidding will open at 10.00.
Registration
All bidders/potential buyers are required to register ahead of the auction date to be able to bid/buy, please visit our website to setup an online auction account.
Tenure
Leasehold with tenant in situ.
Lease
999 years from 1 May 1961 - 933 years remaining
Tenancies
Let on an assured periodic tenancy from 05.02.2020 with a current rent of £1400 PCM.
Ground rent and service charge
Service charge: £2,400 per annum (£200 per month). Ground rent: £25 per annum. Please see legal pack for further details.
EPC rating
D
Council tax band
C - Croydon
Legal pack
For each lot there are Special Conditions of Sale and other documentation provided by the vendor's solicitors. If you wish to receive the Legal Pack, you will be able to register for this via the link on our website. You will receive notification by email once the Legal Pack is received from the solicitor. The documents may not tell you everything you need to know about the property and you are required to complete your own due diligence before bidding.
Additional fees
A buyers charge of £1,650 including VAT is payable on each lot that you buy, in addition to the sale price. Please be aware there may be other additional fees, including disbursements contained in the legal pack payable on completion. Please ensure that you check the legal pack for each lot that you are interested in, prior to bidding.
Deposit
If you are the highest bidder when the auction ends, contracts are exchanged between you and the seller. Both parties are legally bound to complete the transaction as per the special conditions in the legal pack. Your card will be automatically debited for the bidder security amount of £6,000 and we'll require the remaining balance for a 10% non-refundable deposit. We will contact you after the auction has finished to make these arrangements.
Pre-auction offers
These must be made in writing and will only be considered if the Legal Pack has been inspected and proof of funding has been supplied to the auctioneers. Pre-auction offers are only considered on an auction basis in accordance with the “Terms & Conditions - Unconditional Auction".
Mortgage finance
We advise all bidders who require a mortgage to confirm with their Financial Advisor as to whether or not the lot you are interested in would be suitable security to borrow finance against, prior to bidding. If you need to arrange a mortgage it is important that you obtain an offer from your lender before the day of the auction. Most building societies and banks will instruct a surveyor to prepare a valuation report before making a mortgage offer.
* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation, i.e. 'The Reserve'. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
By setting a proxy bid, the system will automatically bid on your behalf to maintain your position as the highest bidder, up to your proxy bid amount. If you are outbid, you will be notified via email so you can opt to increase your bid if you so choose.
If two of more users place identical bids, the bid that was placed first takes precedence, and this includes proxy bids.
Another bidder placed an automatic proxy bid greater or equal to the bid you have just placed. You will need to bid again to stand a chance of winning.
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