Summary - 11, Bermondsey Place East NR30 2DF
2 bed 1 bath Flat
Long‑let tenant, high gross yield — auction sale, needs modernisation..
Freehold includes freehold of leasehold flat above.
AST in place, tenant in situ 10 years, pays £120/week.
Gross yield approx. 12.5% at guide price £50,000.
Two bedrooms, both with ensuite; ground-floor flat.
Kitchen dated (1960s–1970s) and requires modernisation.
Electric room heaters — higher ongoing energy costs.
EPC E; council tax Band A; area very deprived, very high crime.
Auction sale with admin £1,200 and buyer’s premium £960 payable.
A compact two-bedroom ground-floor flat sold freehold, with the freehold of the flat above included. The property is let on an assured shorthold tenancy (AST) producing £6,240 per year (£120/week) and the long-standing tenant of ten years wishes to remain. At a guide price of £50,000 the income equates to a very high gross yield (about 12.5%), making this a clear income-led opportunity for investors.
The flat is purpose-built, average in size (approx. 636 sq ft) and has practical double glazing and electric room heaters. Accommodation comprises entrance lobby, lounge/diner, small dated kitchen, two bedrooms each with ensuite facilities. The EPC is E and council tax band is A. The layout and compact rooms reflect 1970s-era construction and will suit buy-to-let or a purchaser prepared to update the interior.
Important practical points: the property requires modernisation (kitchen dated, general maintenance to external elements described), heating is electric room heaters (higher running costs), and the area is classified as very deprived with very high local crime rates. The sale is by livestream auction (10am Wednesday 22 October 2025) with an administration fee (£1,200 inc. VAT) and buyer’s premium (£960 inc. VAT) payable on exchange — please review the legal pack for disbursements and notice requirements for viewings.
This suits an investor seeking immediate rental income and strong headline yield who is comfortable with tenancy-in-situ and some refurbishment. It is not a turn-key home for an owner-occupier wanting modern finishes or low-running costs without investment.
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