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

Writer AA Gill dies of cancer aged 62

The news comes just weeks after revealing his condition in a restaurant review

by Joe Ellison
10 Dec 2016

A 99-million-year-old dinosaur tail has been found in a piece of amber

To echo, Partridge: "Jurassic Park!"

by Emily Badiozzaman
09 Dec 2016

Youngest in your family? Then you're officially the funniest

by Jamie Carson
09 Dec 2016

Donald Trump just gave WWE's Linda McMahon a job in his cabinet

Because of course he did

08 Dec 2016

Bob Dylan announces UK dates for 2017 arena tour

You have six chances to see the icon

by Emily Badiozzaman
08 Dec 2016

Over 120,000 Leave voters have died since Brexit

New data shows the influence the dead have had on the UK's future

by Tristan Cross
08 Dec 2016

Did you miss this devilish detail on Donald Trump's TIME cover?

One hell of a magazine cover

08 Dec 2016

Russell Tovey talks football taboos, showbiz friends and facial hair

ShortList chat to the actor about fame, films and, erm, dog piss

by Ralph Jones
08 Dec 2016

Giraffes facing 'silent extinction' as population drops by 30%

Numbers have fallen by 30% in just 30 years

by Jamie Carson
08 Dec 2016

TIME's new Donald Trump interview is very, very worrying

Just when you thought he'd changed...

by Emily Badiozzaman
07 Dec 2016