A diminutive studio apartment situated mere yards from Crystal Palace Football Club's iconic Selhurst Park stadium in South London is poised to go under the hammer at auction, presenting a unique opportunity for residential investors and football enthusiasts alike.
Prime Location and Auction Details
Known as Flat 1, 1 Upper Grove in South Norwood, this ground-floor property will feature in Bond Wolfe's upcoming livestreamed auction with a guide price of £120,000. The auction is scheduled to commence at 8.30am on Thursday, 5 February, and will be broadcast online, allowing for remote bidding via proxy, telephone, or internet.
Investment Potential and Rental Income
James Rossiter, associate director at Bond Wolfe, highlighted the flat's strong investment appeal, noting that it generates annual rents of £10,440. He emphasised its strategic location, stating: "This property is a studio apartment within a converted building on the east side of Upper Grove, accessible via the A213 Selhurst Road. It is within walking distance to a wide range of local amenities, including supermarkets, restaurants, and Crystal Palace Football Club."
Property Features and Leasehold Information
The compact flat comprises a combined reception room and bedroom, a kitchen, and a bathroom, all equipped with double glazing and electric heating. It is offered on a 99-year lease that extends until 2117 and is sold subject to an existing tenancy. This tenancy is a five-year lease set to expire in May 2027, with a monthly rent of £870, providing immediate rental income for the buyer.
Transport Links and Local Amenities
Mr Rossiter further pointed out the excellent transport connections, with Norwood Junction station within easy walking distance, facilitating commutes across London. The proximity to Selhurst Park adds a distinctive charm, making it an ideal base for fans or those seeking a vibrant neighbourhood atmosphere.
Auction Context and Broader Market
This studio apartment is one of 180 lots in Bond Wolfe's forthcoming auction, reflecting the ongoing demand for compact, well-located properties in the capital. Its sale underscores trends in the London property market, where smaller units near major attractions and transport hubs continue to attract investor interest due to their rental yields and lifestyle benefits.
