London's June 2013 property auctions: Chelsea, Bayswater and Camberwell

Samantha Collett finds great property auction buys this month on Chelsea's King’s Road, Bayswater and south of the river in Camberwell
There are some top locations and great investment opportunities among this month’s auctions, including a budget Bayswater studio flat with a guide price of £130,000-plus and a two-bedroom maisonette in south London with a guide of £230,000-plus.

Bayswater
Palace Court, Bayswater
Guide price: £130,000-plus
Studio living isn’t for everyone. However, if you’re after a pied-à-terre or a budget city pad then this studio flat in Bayswater with a guide of £130,000-plus could be ideal.

Palace Court (right) is an impressive period building in a prestigious street, so you don’t get much space for your money — only 107sq ft.

However, with neighbouring two-bedroom flats selling for more than £1 million, this could be a snip given its 120-year lease. Bayswater’s shops and cafés are on the doorstep and Portobello Road, Hyde Park and Kensington Gardens are all nearby.
Who: Savills
What: Lot 6 (&7): Palace Court, Bayswater, W2
Where: Millennium Hotel, Grosvenor Square, Mayfair, W1
When: June 17, 2013.


Camberwell
Crofton Road, Camberwell
Guide price: £230,000-plus

South London offers more bang for your buck when buying at auction and this big, two-bedroom maisonette (right) in Camberwell looks a steal with a guide price of only £230,000-plus.

On two floors of an attractive converted mid-terrace house, it has 807sq ft of living space with a feature galleried landing. It needs some modernisation but comes with a 125-year lease and is in an area where similar properties often sell for £400,000 on the open market.

Crofton Road is an attractive, tree-lined road located about half a mile from Denmark Hill station and Peckham Rye (Zone 2) and within easy reach of a wide range of shops, cafés, restaurants and bars.

Do your homework on auction properties, of course, and remember that the buyer will need to pay the seller about two per cent of the purchase price to cover valuation, legal costs and other fees.
Who: Savills
What: Lot 10: Crofton Road, Camberwell, SE5
Where: Millennium Hotel, Grosvenor Square, Mayfair, W1
When: June 17, 2013.


Chelsea
King's Road, Chelsea
Guide price: £525,000-plus

King's Road is often regarded as Chelsea’s most fashionable spot — which means properties along this two-mile shopping street don’t come cheap. This one-bedroom first-floor mansion flat (right) is no exception, with a guide price of £525,000-plus.

And it needs work: lots of it. The flat is presented in “derelict decorative order”. And it will need a lease extension in the not too distant future, given the lease is hovering around the 62-year mark.

But its valuable location may be enough to justify the price, especially if a new King’s Road station gets the go-ahead as part of plans for Crossrail 2 and a new Tube line linking Chelsea and Hackney. Until then South Kensington and Sloane Square Tube stations in Zone 1 are less than a mile away.
Who: Savills
What: Lot 63: Alexandra Mansions, 333 King’s Road, Chelsea, SW3
Where: Millennium Hotel, Grosvenor Square, Mayfair, W1
When: June 17, 2013.

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