The 'shed' which sold for almost £1m after frantic bidding war

The property has three rooms and sits on a 0.6 acre plot Credit: SWNS

A dilapidated bungalow in Peckham has sold for almost £1million. The 1950s prefabricated shack is completely derelict. It has three rooms and sits on 0.6 acres of land on a corner plot.

It was sold without planning permission by Savills, on behalf of Southwark Council. It's believed the house has been derelict since 2002.

It went to auction with a guide price of £590,000 on Monday, and after a frantic bidding war, eventually snapped up for £920,000.

It's believed the new owner will redevelop the site.

The house was originally listed for auction with a guide price of £590,000 Credit: SWNS