Flat sells for less than £100k

A flat in Brixton, which even the estate agents describe as "horrendous" has gone on sale for £99,500 - less than many garages and parking spaces in the capital

Pictures: the "horrendous" £100,000 London flat

The flat is priced so low because of disrepair Credit: Kinleigh Folkard & Hayward

A flat in Brixton could well be the last one ever to sell in central London for under £100,000 - but even the agents themselves describe it as "horrendous"

Everything in the kitchen appears broken Credit: Kinleigh Folkard & Hayward
The block on Brixton Hill where you can purchase the "horrendous" flat Credit: Kinleigh Folkard & Hayward

The studio apartment in Brixton Hill is in desperate need of modernisation, and comes complete with broken electrical appliances and crumbling plaster in every room.

Helping to push the price down is the fact it's only available to cash buyers, with the lease expiring in just 56 years - and it would cost over £20,000 to extend it.

The small, grubby living room Credit: Kinleigh Folkard & Hayward

Leigh Munday from agents Kinleigh Folkard & Hayward, who are handling the sale, said: ”It’s horrendous, it’s not very nice at all, it needs complete refurbishment and a hefty lease extension".

Nevertheless, they still say it could be a "fantastic investment opportunity" for the right buyer.

Indeed, at under £100,000 the property is priced even lower than many parking spaces in the capital - with one spot in Hyde Park selling for more than three times the asking price of the flat last month.

House prices in Brixton have been rocketing due to improvements in the area and great transport links - it's now not unusual to fork out over £500,000 for a two bedroom house.

The agents are convinced that with a bit of work, even this flat could pull in £1000 a month in rent.

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