F1 millionaire Eddie Jordan raffles off his London flat

Formula 1 boss and Top Gear presenter Eddie Jordan's £750,000 Tooting flat is up for grabs, and it could be yours for only a tenner

Irish motorsport mogul Eddie Jordan is putting the property he owns in Tooting with his son, Kyle, up for raffle on their property site Win a Property (WAP).

The £750,000 flat is located on Lucien Road in super-trendy Tooting, just a stone’s throw away from Tooting Bec tube station. In 2017, Lonely Planet identified the South London town as one of the 10 coolest areas in the world.

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It’s a first-floor period conversion with a funky open-plan kitchen and living area. There's also direct access to an uber-luxurious private roof terrace.

With renovations still ongoing, Kyle is overseeing the design process. However, the winner will receive the flat unfurnished, giving them room to put their own personal touches on the property. As an added bonus, stamp duty and lawyers’ fees are part of the prize.

WAP was established last year by the father-and-son duo to sell properties on behalf of developers. Speaking to the Evening Standard's Homes and Property about the motivation behind the business model, the F1 titan said, "I get the clear impression that in London, owning even a studio or starting a family is out of reach of most people."

He added that he hopes the property will be won by someone looking to settle down in the capital and begin a family. 

How to win

There is a £10 entrance fee and hopefuls will play a game of spot the ball as part of the raffle process. The Jordans expect to sell over 100,000 tickets.

The property is currently undergoing a total revamp and hopeful winners should also know that they will not see the completed property until they have entered the raffle. Entries must be in by 23rd December.

The house raffle controversy

There has been an ensuing debate about the legality of property raffles.

The Gambling Commission – a Government public body responsible for the regulation of gambling – sets out the rules regarding this practice. They state a property raffle must have a competitive aspect, requiring the entrant to display skill. A lottery is simply luck of the draw.

Eddie and Kyle sought legal advice concerning the competition’s terms and conditions, and their game of spot the ball is fully compliant with the commission’s rules.

Try your luck with WAP and you may be living your best London life sooner than you think...

Top image credit: Anthony Devlin / PA Archive / PA Images