Acting for a Trustee in Bankruptcy, the Insolvency Department of Currell Chartered Surveyors has just sold a repossessed property in Barking for 26% over the guide price.
The four bedroom semi-detached property in Dereham Road was sold through auction at The Sheraton Grand Hotel in Piccadilly for £497,000 – a substantially larger amount than the £390,000 guide price.
The property is close to Barking town centre and represented a great opportunity for investment and modernisation.
The average property price in the borough of Barking and Dagenham is £296,892 – up 3.9% from 2016 (Land Reg, Dec 2017). Currell is opening a new office in Barking this summer, as part of the wider regeneration of the area.
There are plans for more than 35,000 new homes and 10,000 new jobs in the borough over the next 20 years.