Could this be London's cheapest flat for sale? Leyton home with 'nothing but the kitchen sink' is set to go under the hammer for £25k

A Leyton flat that could well be the cheapest in London is going up for auction with a guide price of £25,000 to £30,000.

The property has its own street entrance leading to two rooms, a bathroom and a separate WC. There is a kitchen, but it only has a sink. There is aso a back garden that is shared with the first floor neighbours.

But there's also a significant catch: the purpose-built ground floor home only has five years left on its lease - and extending it could cost anywhere between £260,000 - £290,000 if done immediately, estimates Sophie Lyall, business manager at Leasehold Valuers.

However, as a new owner wouldn't have a legal right to apply for an extension for two years, this is likely to stretch upwards of £310,000.

A similar flat with a long lease on the same road has been recently valued at £350,000.

Significant renovation work will also need to be carried out to make the home habitable. The walls need redecorating and the kitchen, bathroom and new carpets need fitting.

Plus, complications could arise if this isn't completed within the first two years of ownership as once the lease falls to three years the freeholder may issue a schedule of dilapidations, which forces the owner put the property in good order.

"Only an experienced buyer should this flat, and I would recommend anyone seeks professional advice first," says Geneviève Mariner, director of leasehold reform & enfranchisement at Strettons.

The ex-Warner flat, found on residential Kettlebaston Road, has been vacant for six months. It belonged to a gentleman for many years, who has since died and the property was inherited by his sister.

Stretton auction director Philip Waterfield is confident that the short lease length will not put all buyers off, as it offers an "attractive alternative to renting". Over fifty people have expressed interest so far.

"Rather than pay rent for five years a buyer may prefer to buy this flat, live in it and then assess their options in five years time as to whether they want to extend the lease or walk away," he explains.

If the buyer chooses not to extend the lease and is living in the property they will be eligible to apply for an assured tenancy, meaning they have the right to continue renting at market rate.

The property is located a stone's throw from the big green space of Leyton Jubilee Park.​

Leyton, in the north east borough of Waltham Forest, is a cosmopolitan, up and coming district bordering Walthamstow, Leytonstone, Stratford, Homerton and Lower Clapton.

It is primarily a residential area, consisting mainly of terraces and modern housing estates, though it is also home to Leyton Orient Football Club and part of the Queen Elizabeth Olympic Park.

Leyton has benefited from regeneration projects over the past decade, including the creation of several small parks, the restoration of shop fronts on Leyton High Road and the smartening up of pavements.

Lea Bridge Road mainline station is just under half a mile away from the flat while Leyton station is on the Central line for fast routes into the City.

The property goes under the hammer as Lot 8 at Strettons' auction on 11 July.