A two-bedroom house in London is selling for just £200,000 – but there’s a big catch

A TWO-BED house in London is set to go under the hammer for £200,000 this month – but there’s a big catch.

The two storey property on Theobalds Road, Croydon offers the buyer a lot of bang for their buck.

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A two-bed London home is set to go under the hammer for £200,000 – but potential bidders might want to take a closer lookPhoto credit: McHugh & Co
The Croydon house requires a lot of work, with the buyer likely to have to spend tens of thousands of pounds more before moving in

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The Croydon house requires a lot of work, with the buyer likely to have to spend tens of thousands of pounds more before moving inPhoto credit: McHugh & Co

The bedrooms, living room and kitchen are spacious, while the house even has a garden – a rarity for a property in the capital with such a low price.

But those who are willing to make an offer should perhaps take a closer look first.

And they have to be willing to shell out tens of thousands more before they can move in.

This is because the townhouse is practically derelict inside and needs a complete remodel.

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In some rooms, the wallpaper is peeling off the walls and the flooring needs to be ripped out and replaced.

The ceiling in the master bedroom has partially collapsed, littering the floor with debris.

The spare bedroom needs the most work. Its walls are mostly bare brick, with water damage visible below the window.

The house also needs a good coat of paint outside.

It looks a bit run down compared to its neighbors and the new owner might want to put in more modern windows.

A fence has fallen in the garden – but the concrete space is likely to thrive with a green thumb.

Despite its problems, the home is likely to be quickly snapped up by an enterprising buyer with strong home improvement skills.

It is ideally located on Factory Road near the center of Croydon which means it is close to shops and train stations.

With a little hard work, the home is likely to be a great investment, realtors say.

It will be auctioned by McHugh & Co on May 26, with sellers trying to complete it within six weeks.

Other London properties currently on the market make the house look like an even better buy.

FRIGHTEN

A one-room apartment in the east of the capital is so cramped that the toilet is a few centimeters from the kitchen.

Agents say the house, which can be rented for £700 a month, would best suit an “easy woman”.

It was blown up on Reddit, with users writing, “The London rental market is on a whole other level.”

And one Notting Hill flat, on the market for a whopping £2,578 a month, is so small that the new tenant can cook while lying on his fold-out bed.

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Dubbed a “stunning luxury studio,” the apartment has no space for a mattress or sofa.

And when the bed is laid out, its edge is centimeters from the stove.

Carpets are in poor condition while wallpaper is peeling

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Carpets are in poor condition while wallpaper is peelingPhoto credit: McHugh & Co
However, for the right bidder, the home offers a great investment opportunity.  It offers a lot of space and a huge garden behind the house

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However, for the right bidder, the home offers a great investment opportunity. It offers a lot of space and a huge garden behind the housePhoto credit: McHugh & Co
Diligent DIY fans will quickly recognize the potential of the property

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Diligent DIY fans will quickly recognize the potential of the propertyPhoto credit: McHugh & Co

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