A couple days ago I posted the most expensive listing on Rightmove in Croydon (CR0), and it came in at £32m. I thought to just have a quick peek at the cheapest property listing on Rightmove in Croydon today and it returned this:
Studio Flat for Sale £15,000.
My initial reaction was to get out my wallet and buy it. STUDIO FLAT FOR £15k, that’s bloody awesome. Then I read a bit further…
The property comprises a development opportunity to create a lower ground floor flat beneath an existing semi-detached building arranged over ground and three upper floors.
The proposed application will require the buyer to excavate the area below the ground floor and to create a two person self-contained flat.
Anyone else think they should change the listing to say ‘LAND for sale £15,000.
Now it’s still not a bad idea. I have personally rented out 6 studio flats next door to this one for £800pm each, and they are due a rental increase. It’s a decent rental area, relatively close to amenities and the local business parks / shopping areas.
I’m just not sure the effort of building this is worth it… It just seems like a lot of work for a studio flat? And then you are still on the lower ground. Nope, i’ll leave this one. One to the next.