Key Features ¢ Cash Buyers Only ¢ 1 Bedroom First Floor Flat ¢ In Need Of Modernisation ¢ Sold With Tenant In Situ Paying £950 pcm ¢ 61 Year Left On Lease ¢ Great Transport Links Into Central London ¢ Buyers Fee Applies ¢ Pre Auction Offers Considered ¢ Auction Pack Available On Request Description ** For Sale By Online Auction** Pre Auction Offers Considered** Cash Buyers Only** We are pleased to present this one bedroom first-floor flat with great potential, located in the lively area of South Norwood, London SE25. For sale with with tenants in situ, this property offers an attractive investment opportunity for buyers seeking rental income, as well as the potential to add value through refurbishment. The flat comprises a spacious living and dining area with ample natural light, providing a solid foundation for a contemporary open-plan layout. The kitchen and bathroom are functional but would benefit from updates to bring them up to a more modern standard. The bedroom is well-proportioned, offering plenty of space for storage. Positioned within easy walking distance of Norwood Junction Station, the property offers excellent transport links into Central London, including services to London Bridge and Victoria, along with direct connections to Gatwick Airport. The area boasts a selection of local shops, cafes, and restaurants, while the nearby South Norwood Lake and Grounds provide green space for outdoor relaxation. With tenants in place, this flat provides immediate rental income alongside the chance to increase its value through modernisation, making it a promising investment in a popular London neighbourhood. Additional Information - Tenure - Leasehold Lease - 99 years from 24th June 1986 “ 61 years remaining Service Charge “ £650 pa Ground Rent “ £200 pa Sold With Tenants In Situ “ Current Rental £950pcm Traditional Terms & Conditions - This property is for sale via Online Auction. This is a modern twist on the traditional auction room sale where buyers can bid for the property via an online platform. The auction will run for 3 hours on a set date and time chosen by the vendor of the property. The winning bidder, assuming the reserve is met, is legally bound to exchange on the property and pay a 10% deposit similar to a traditional auction house sale and they will have 28 days to complete, please check the legal paperwork to confirm deposit amount. Upon completion of a successful auction the winning bidder will be required to pay a non-refundable reservation fee of 3.6% inclusive of VAT of the winning bid in addition to the purchase price subject to a minimum fee of £5940 inclusive of VAT. The auction is powered and carried out by Whoobid and is subject to terms & conditions which will form part of the auction pack which will be available to download for free once produced by the vendors legal representatives. We strongly recommend that you review the legal documents prior to bidding and seek legal advice. PLEASE REMEMBER THAT THE RESERVATION FEES ARE PAYABLE IN ADDITION TO THE SALE PRICE. Fees paid to the auctioneer may be considered as part of the chargeable consideration and may attract stamp duty liability. Bidders will be required to register in order to download the 'legal pack', if you choose to bid on the property, you will be required to complete further identity checks for anti-money laundering purposes and provide card details before you are able to place a bid. Properties may be sold prior to public auction if an offer is accepted by the vendors. **Guide price - This is an indication of the seller's minimum expectations at auction and is not necessarily the figure the property will achieve but acts as a guide, prices are subject to change prior to the auction. **Reserve price - Most auctions will be subject to a reserve price, if this figure is not achieved during the auction, then the property will not be sold. In normal circumstances the reserve price should be no more than 10% above the guide price.