Jump to Main ContentJump to Primary Navigation
Top

This run-down bungalow in Peckham just sold for £1m because the world is INSANE

peckhambungalow1.jpg

If only Del Boy and Rodney had taken advantage of Thatcher's Right to Buy in the eighties, they'd have had to wait until now to become millionaires by default.

A run-down bungalow in South London's Peckham has just sold for almost a million pounds at auction - and it doesn't even have a fitted bathroom.

A flurry of bids came in for the property, owned by Southwark Council, located on the junction of Costa Street and McDermott Road. The auction, conduced by Savills, saw the price rise to an astonishing £920,000.

The bungalow is close to the popular Bellenden Road and Peckham Rye station and consists of an entrance hall, three rooms, kitchen, a 'bathroom area' and a separate toilet.

For those of you (us included) who assumed that it would be bought in order to knock down and immediately build a massive block of flats well, it's not quite that straightforward - it comes without planning permission.

The council had decided to sell after the cost of renovation had become too high, with Councillor Richard Livingstone, cabinet member for housing at Southwark Council saying that he was "extremely pleased" with the sale. Well, we suppose he'll be the one the new owners will be (allegedly) bribing to get that planning permission won't he?

Chris Coleman-Smith, head of Savills Auctions, said: "There was quite a lot of interest in it and bidding started at £600,000, so people weren't messing around. It was a good result and there is certainly scope for the buyer to achieve a good return."

(Image: Savills)

Related

LondonRentMap1.jpeg

London Tube Rent Map Shows You The Insane Prices in the City

Duck.jpg

The 21 best places to grab breakfast in London

hewden1.jpg

London To Have 18-Mile High Skyscrapers By 2045

Comments

More

Boys with older dads are more likely to be geeks, study shows

Now you know who to thank/blame

by Dave Fawbert
23 Jun 2017

You can now buy IKEA furniture on Amazon Prime

This is big

by Gary Ogden
23 Jun 2017

David Dimbleby kicked someone off 'Question Time' for being rowdy

Rock 'n' roll politics

by Carl Anka
23 Jun 2017

Jeremy Corbyn overtakes Theresa May for first time in PM poll

Everything's coming up Corbyn

by Alex Finnis
23 Jun 2017

Some people aren't happy about Grenfell Tower survivors' new homes

Residents lost their homes just last week

by Tom Victor
22 Jun 2017

Boys turn up to school dressed in skirts to protest shorts ban

That's one way to do it

by Carl Anka
22 Jun 2017

The Daily Mail is hilariously losing its rag over a Guardian cartoon

They've gone full breakdown

by Dave Fawbert
22 Jun 2017

Similar cladding to Grenfell Tower being used on 600 other high rises

Sadiq Khan has called for all of it to be removed

by Dave Fawbert
22 Jun 2017

Lazy? Got a dog? You're going to want to see this genius trick

Yet another benefit of having a dog

by Carl Anka
22 Jun 2017

There's a 51% chance that people on dating sites are in a relationship

Plus more terrifying online dating stats

by Gary Ogden
22 Jun 2017