Initial price	£110,000
13/06/25	£90,000
Price Change	-18.18%

This vacant leasehold flat in Southwark, London, is being sold by public auction due to the owner's instruction. The property, which has 409 square feet of space, is in need of design, modernization, and repair, and requires planning permission to overcome its current layout challenges. The flat is located in a densely populated area, making it an ideal opportunity for investors and developers to purchase and renovate the property to realize substantial forced appreciation. The auction will take place online on June 27, 2025, and interested bidders must be approved and have set up an online bidding account, verified their ID, and paid the security deposit to participate. The property is being sold with a 150-year lease from 2005, and the auction fees include a 2.5% buying commission plus VAT, as well as a minimum fee of £2,100 plus VAT.