Musings of a London Property Finder
Allsops have announced an additonal auction to their published schedule, in view of the high number of lots they have been asked to sell this month. The new sale will be held on the 12th and 13th of November and we have added a link to the bottom of the blog. Most entries are repossessions and so there are a number of bargains available for buyers who don’t want to do the renovation work normally associated with properties offered at auction.
Property bargains include lot 702, a 2 bedroom flat currently on sale through Hamptons with a list price of £325,000 which appears to be neutrally decorated with wooden floors and It would suit someone looking for a buy-to-let or a noise-tolerant owner occupier as it is situated on busy Finborough Road, which is one of the main routes out of West London to the M4.
Other London property bargains are likely to include Appartment 42, 2 Point Wharf Lane in Brentford, although the guide wasn’t published as we went to press. Convenient for anyone working in West London, this 1 bedroom new-build 2nd floor appartment is 10-15 minutes walk from Brentford or Kew overland stations and was sold in 2004 for £249,999 according to Our Property.co.uk. There is 117 years remaining on the lease and the ground rent is £175 per annum. Prospective buyers should definitely check out the service charge prior to purchase, as these can add a few thousand pounds to your annual living costs.
For buyers without deep pockets, one of the lowest price lots is a 1 bedroom flat with a guide between £10,000 and £20,000 in Port Glasgow, 20 minutes max from Glasgow Airport. Clearly, we haven’t viewed it, but a flat was sold there in April for £45,000 and a rough guide for 1 beds in the area is £30,000 to £55,000, so as a first step on the investment ladder, it might turn out to be a good investment. We think this particular flat may have sold for £19,500 in 2004, hence the guide. Interested parties should download the deeds from the land registry which would resolve the matter once and for all. It was offered for rental at £325 pcm but even allowing for 6 weeks void each year and having to lower rental expectations, within 10 years an investor would have paid off the flat and it would become a nice little earner. The London Property Finder casts a wide net and has lanf standing connections with the Scottish Property Market
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