The Jewish Chronicle - - CLASSIFIED -

AP­PETITE for rental in­come is fu­elling a healthy auc­tions mar­ket. A Lon­don flat on a short lease has sold for £100,000 above guide price through Auc­tion House Lon­don. The two-bed­room flat in Wem­b­ley, Mid­dle­sex, with a re­main­ing lease of just 18 years, sold for £140,000 from a start­ing guide price of just £40,000. Al­though the flat needed re­fur­bish­ing, the ad­van­tage for the buyer of this prop­erty in Sylvia Court was that the free­holder had al­ready been ap­proached for an ex­ten­sion to the lease.

Jay Howard from Auc­tion House Lon­don says: “De­spite mar­ket fluc­tu­a­tions, prop­erty auc­tions are still pro­duc­ing good value for sell­ers. Land, with or with­out plan­ning per­mis­sion, is prov­ing an ex­cel­lent buy and the first-time-buyer prop­erty mar­ket is look­ing par­tic­u­larly promis­ing at the mo­ment.”

The prop­erty was one of 106 lots of­fered in the auc­tion room at the Lon­don Mar­riott Ho­tel in Re­gent’s Park. The sale raised a to­tal of £13.6 mil­lion.

Short-lease Wem­b­ley flat, sold for £140,000 by Auc­tion House

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