Chain-free two-bedroom flat for refurbishment near Norwood Junction station.
Chain-free two-bedroom apartment above commercial premises
Open-plan kitchen/living with double-aspect windows, 742 sq ft
Requires full refurbishment throughout; bathroom needs work
Leasehold: 99 years from Oct 2014 (≈88 years remaining)
Service charge approx £1,874.98 pa; ground rent £375 pa (doubles every 33 years)
No parking; very slow broadband at the property
Excellent location — close to Norwood Junction station and High Street
Area has very high crime and is in a deprived ward (affects rental/resale)
A two-bedroom purpose-built apartment above commercial premises in South Norwood, offered chain-free and ready for refurbishment. The apartment has an open-plan living/kitchen with double-aspect windows that provide good natural light and an efficient EPC C rating. At about 742 sq ft, the layout is practical for rental or resale after works.
This is a clear value-add opportunity for an investor or hands-on buyer: the property requires full cosmetic refurbishment and some updating to the bathroom, but the price reflects that. Lease started October 2014 (99 years) leaving approximately 88 years remaining — purchasers should check leasehold implications and future costs with a solicitor. Service charge is £1,874.98 per year (half-yearly statements), plus ground rent of £375 pa which doubles every 33 years.
Location is a major selling point: moments from South Norwood High Street and Norwood Junction BR/Overground station, with plentiful local amenities. There is no parking and broadband speeds at the address are reported very slow; the area has high crime statistics and sits in a deprived ward, factors that may affect rental yield and resale timing.
Practical buyers will budget for refurbishment costs, check the communal gas-heating scheme and building insurance cover, and confirm any management arrangements. A current offer of £235,000 has been received and the property remains on the market until legal exchange; interested buyers should act promptly if planning a competitive bid.