When it comes to snapping up a bargain in the centre of London, Zone 1, it certainly doesn’t tend to come as an easy task.
That’s why this two bedroom apartment which has been listed on Zoopla for just £19,995 could be a surprise to some.
The property, located close to Westbourne Park and Ladbroke Grove Underground Stations with the postcode W11, seems to be a bargain at first glance.
According to Zoopla, flats in the area have an average value of more than five times the listed price – at £1,093,557. So, what makes this property so cheap?
While the property is listed in the website’s For Sale section, upon taking a closer look, there is one very important detail to note about this flat.
Rather than being listed with a guide asking price, it has instead been posted with a “fixed price”.
So, what does this mean?
The property, listed by the London-based property investment company Golden Properties, is up for grabs solely as a rent-to-rent opportunity.
According to AMS Housing, this is where an individual or company rents a particular property from landlords, with the landlord receiving a fixed guaranteed rent.
This means that the party who pays the landlord can then let the property to tenants for a fixed period and agreed fee.
The profits will then be redistributed back to the company or person letting from the landlord, and to the landlord – who will receive the fixed price.
This means that while the property has been placed on the website under the For Sale section, it doesn’t actually seem to be available for purchase.
For anyone who is interested in an investor opportunity, the two bedroom dwelling boasts central heating and double glazing.
It also has a bathroom, kitchen, and living dining area.
From the photos uploaded to the website, the interior seems to be modern and neutral.
Another property which has stood out online is a two bedroom house in Cumbria, which is selling for £35,000.
The end terrace house has an outside year area in addition to a kitchen, bathroom, and young dining room.
However, it seems that the dwelling could be bought for a higher price – as it is set to go under the hammer at a housing auction next month.
The buyer will also have to pay administration fees, and would likely need to spend some money on modernising the interior.
It currently contains a very surprising feature in the bathroom – with the suite being a bold terracotta colour, and the bath tub itself protruding into the centre of the room.
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