1-bed London flat for £80,000

25 Northumberland Road, Beckton E6 5RN

A leasehold 1-bedroom flat with 74 years left on lease.

It was sold for £120,000 in 2004 and in the Allsop auction of 18th September, 2008 for £80,000 with a guide price of £70K+

Mitcham Newbuild flats £100,000 off but no sale

Two repossessed flats in Mitcham, south west London, built in 2005 weren’t sold in in the Barnard Marcus auction on Wednesday, 21 May 2008, despite being £100,000 cheaper.

Flat 2, Princess Lodge, 41 Church Road, Mitcham CR4 3BF previously sold for £249,950

Last bid was £143,000

Flat 3, Princess Lodge, 39 Church Road, Mitcham CR4 3BF previously sold for £249,950

Last bid was £147,000

The flats are part of a development on the site of a pub originally called the Star. The twelve flats were all sold for £250K each, or £3 million in total.

Another flat in the same development also didn’t sell at an earlier auction, see this earlier blog entry.

1-bed flat in Norbury sold for £75,000

Flat 3, 1166A London Road, Norbury, London, SW16 4DP was sold in the Savills auction on 12th May, 2008 for £75,000.

Lease of 99 years from 1984. The flat is above a shop at the end of a terrace.

Tottenham studio flat sold for £80,000

In the Savills auction on 12th May, 2008, a first floor studio flat at

27C Bruce Grove, Tottenham, London N17 6RJ

was sold for £80,000 it had a guide of £75,000+

Mitcham EOT 3-bed semi 16th April 2008

A repossessed 3-bedroom end of terrace in Mitcham, south west London with a guide price of £130K+ is Lot 25A in the Andrews and Robertson auction on 16th April 2008.

It sold for £182,000.

It previously sold for £220,000 in April 2006.

96 Carisbroke Road, Mitcham, Surrey CR4 1QE

Ealing flat for 25K less after 6 months

Evesham Court, Flat 10, Tewkesbury Road, Ealing, London, Greater London, W13 0UH

Sold previously for £149,999 on 17th October, 2007

Sold at Allsop Auction on 26th March, 2008, lot 114 for £125,000.

Leasehold held on a lease for a term of 130 years from 1st January 1981 at a current ground rent of £10 a year. 1st floor flat let on a 6 month Assured Shorthold Tenancy (AST) from 22nd November 2007 at a current rent of £800 per month.

London SE25, 3-bed terraced – £205K was £242K

41, Whitehorse Lane, Croydon, London, Greater London, SE25 6RD

A 3-bedroom mid-terraced house with 2 receptions.

Sold in Erinaceous auction of 28th Feb 2008 for £205,000 had sold previously in June 2005 for £242,000.

Price History

The Fusion, Poplar

Flat 75 in The Fusion, East India Dock Road, Poplar, London E14 0EF.
Sold for £208K in Barnard Marcus auction of 13th March, 2008. It was originally sold on 20th October 2004 for £202,500.

2-bed flat in Southwark unsold at 20% off

59 Galleria Court, Sumner Road, Southwark, London SE15 6PW

A repossessed 2-bedroom flat that sold on 16th June 2006 for £250K didn’t sell at Barnard Marcus auction on 7th Feb, 2008; the last bid was £195K and the reserve was £200K.

Freehold Ground Rents on Wapping Flats – Unsold

Pierhead Wharf, 69 Wapping High Street, London, E1W 2YF

Forty flats, on a virtual freehold of 999 years from June 1996, paying currently a ground rent of £220 pounds a year each. This lot at Barnard Marcus auction on 7th Feb, 2008 also included rents from four car parking spaces at £100 a year each.

Income of £9,200 a year.

Bidding started at £175,000 and ended at £187,000. The reserve of £200,000 was not met. The yield on £200K would be 4.6%.