A TWO-BED London home will go under the hammer for £200,000 this month – but there’s a big catch.
The two-storey property in Theobalds Road, Croydon offers a huge amount of bang for the buyer’s buck.
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The bedrooms, living room and kitchen are spacious, while the home even has a garden – a rarity for a property in the capital with such a low price tag.
But anyone ready to make an offer might want to take a closer look first.
And they’ll need to be prepared to fork out tens of thousands more before they can move in.
That’s because the terraced house is virtually derelict on the inside, and will need a complete remodel.
In some rooms, wallpaper is peeling off the walls and the flooring needs to be ripped out and refitted.
The ceiling has partially collapsed in the master bedroom, scattering the floors with debris.
The spare bedroom needs the most work. Its walls are mostly bare brick, with water damage evident under the window.
The home also needs a good lick of paint outside too.
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It looks a little shabby compared to its neighbours, and the new owner may want to fit more modern windows.
A fence has toppled in the garden – but the concreted space will likely flourish with a green-fingered new occupant.
Despite its problems, the house will likely be snapped up quickly by an enterprising buyer with strong DIY skills.
It’s ideally located off Factory Road close to Croydon’s centre, meaning it’s near shops and train stations.
With a bit of hard work, the home is likely to be a great investment, agents say.
It will be auctioned off by McHugh & Co on May 26, with sellers looking to complete within six weeks.
Other London properties currently on the market make the home look like an even better buy.
FRIGHTMOVE
A studio flat in the east of the capital is so cramped the toilet is just inches from the kitchen.
Agents say the home, available to rent for £700 a month, would best suit a “light female”.
It’s been blasted on Reddit, with users writing: “The London rental market is on a whole different level.”
And a flat in Notting Hill, which is on the market for a whopping £2,578 a month, is so small the new tenant will be able to cook while lying on their fold-out bed.
The apartment, described as a “stunning luxury studio”, doesn’t have room for both a mattress and a sofa.
And when the bed has been laid out, its edge is centimetres away from the oven.
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