Chelsea Flat for [Pounds Sterling]240,000. but Needs Work; Bargain Buy: The Flat Is on the First Floor of a Purposebuilt Block in Lawrence Street. the Interior Is Described as Dated

The Evening Standard (London, England), January 29, 2008 | Go to article overview

Chelsea Flat for [Pounds Sterling]240,000. but Needs Work; Bargain Buy: The Flat Is on the First Floor of a Purposebuilt Block in Lawrence Street. the Interior Is Described as Dated


Byline: MIRA BAR-HILLEL

IF you thought it was impossible to find anything on the market inChelsea for less than [pounds sterling]250,000 then think again.

This property has an SW3 postcode and is up for auction with a guide price ofjust [pounds sterling]240,000.

The only problem is it has remained largely unchanged since the Second WorldWar.

The first-floor studio flat is part of a four-storey purpose-built block setaround a landscaped square behind Cheyne Walk.

According to the auction catalogue, the interior decoration is "dated" andneeds upgrading.

The property comprises a studio room with a bed recess, kitchen and bathroom.It has a 125-year lease and the ground rent is [pounds sterling]250, although this is likely torise.

The studio, which will by sold by auctioneers Savills on 11 February, and therest of the block is owned by the Peabody Trust Housing Association. The block,in Lawrence Street, is in desperate need of modernisation and the associationneeds to sell the flat to finance refurbishment of the remainder. …

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