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Auction Property

A Zone 1 Central London Flat Could Be Yours For Just £100k!!

Today I went to see a 2 bedroom split level flat in central London. It was just a 1 minute walk from the tube and well located for lots of local amenities.  It was a bargain price and I knew there was going to be a catch…Zone 1 with a guide price of a measly £100k!

It had a generous feeling of space, and while basic – it could be rented out to tenants with just a bit of sprucing from its’ current condition

It had lovely views across the city:

And the communal areas were clean and well looked after:

And while the market rent of such a central property would mean it was a high yielding property – the fact that it was a flat in a block made of concrete construction means that the capital uplift will usually be low due to the difficulty in raising finance.

I spoke to the bank manager who liked the rental yields and was willing to lend…but in the end I decided against it.

While I am operating in a flat property market, there are still plenty of opportunities to buy cheap properties that have BOTH high rental yield and good capital uplift prospects.   Yes it takes longer and you have to look harder – but it can be done!

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