Goodfellows says ..

Property Oracle says ..

This property on London Road, Mitcham, is presented as a freehold investment opportunity. It features 15 bedrooms and 3 bathrooms. The ground floor comprises three commercial units, currently leased, offering potential rental income. The provided photographs reveal that while some areas, like the bathrooms, have been recently refurbished, the overall condition of the property requires extensive renovation and deep cleaning. Many of the bedrooms are cluttered and need modernising. The exterior appears dated but structurally sound. There is a paved rear area, but no private garden is evident. The property’s location on London Road provides access to local amenities and transport links, but the proximity to a large electricity pylon may be a negative factor for some. The asking price of £1,500,000 is high considering the need for substantial renovation. While the existing commercial tenants generate income, a thorough assessment of the rental agreements and market values is essential to determine the investment property’s true worth. Potential buyers or investors should be aware of potential costs associated with repairs and renovation, as well as the presence of the pylon.

Therefore, we give this property 4 / 10. *Disclaimer: This is our option and does constitute a recommendation or financial advice. Do your own research. *

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