London flat with two beds sells for £117k - but you won't believe the state of it

Mould ridden flat in Thamesmead, south-east London which sold at auction for £117K. (Image: Auction House London / SWNS)

The two bedroom property in Thamesmead, south-east London, is in a "poor condition" and is a "full program of refurbishment", according to Auction House London, who listed it with a guide price of just £90,000 on Auction House London.

The bargain-basement listing price reflects the flat's dire state, with grim images showing walls covered in black mould, tattered curtains hanging off their rods, and a floor riddled with missing tiles.

Exterior of the building where the flat is located (Image: Auction House London / SWNS)

Compounding its issues is a leasehold with only 60 years left, potentially complicating the ability to obtain a standard mortgage.

In spite of these drawbacks, the property was immensely popular among bidders, with auctioneers confirming it drew substantial competition.

Mould ridden flat in Thamesmead, south-east London which sold at auction for £117K. (Image: Auction House London / SWNS)

Located in a purpose-built block conveniently close to Abbey Wood station, the flat ultimately sold for an incredible £117,000.

It features a reception room, a kitchen, two bedrooms, a bathroom, and offers access to shared gardens.

Mould ridden flat in Thamesmead, south-east London which sold at auction for £117K. (Image: Auction House London / SWNS)

An Auction House London spokesperson expressed little surprise at the interest in the sale, noting: "It was a popular lot in our auction."

They went on to elaborate that such properties present an ideal opportunity for investment, saying: "We're not too surprised as this is an ideal auction lot to get on the property ladder and refurbish to either live or sell on."

The flat features a reception room, a kitchen, two bedrooms, a bathroom, and offers access to shared gardens. (Image: Auction House London / SWNS)