The list price of £400,000 seems reasonable given the property’s location and size (120 sq ft). The average price in the area is £518,733, and the average price per sq ft is £496. Considering the condition of the property, which requires renovation, the price reflects the potential for improvement and value enhancement.

The property appears to be in need of significant renovation. Interior photos reveal dated decor, worn carpets, and a bathroom that requires updating. The exterior also shows signs of wear, suggesting that refurbishment is necessary to bring the property up to modern standards.

The property is located in Grove Park, Lewisham, which is considered a desirable residential area in London. It benefits from proximity to local amenities, schools, and transportation links, including the Lee train station within walking distance. This enhances its appeal to families and commuters.

The property includes a garden, which is a desirable feature for many buyers, especially in London. The plot size is not specified, but the presence of a garden adds value. There also appears to be a shed in the garden that needs repair.