Rundown garage in Chelsea is snapped up for half a million

Written on 3 November 2014 by Alistair Boscawen in Property News

Land in SW3 is in high demand – demonstrated by the quick-purchase of a dilapidated garage – which sold for more than three times the average price of a UK home.

chelseaA crumbling garage in Chelsea – which is just about large enough to fit a car on, has been purchased for £500,000 by an anonymous buyer.  

Located just off King's Road, the garage was set to go on auction today – but was spied by a keen investor beforehand. The building is now officially the most expensive in the UK – selling for three times the price of a UK home.  

The plot of land measures just 1,000 square feet – and in August the garage was granted planning permission for a one-storey home with a basement, en suite bathroom, two bedrooms, a living room, guest bathroom and a patio.

The garage is located behind Lamont Road in Chelsea – here the average home costs £3.5 million and the sale comes after a garage conversion in Mayfair went on sale for an eye-opening £24 million.  

For more information read on below:

Evening Standard

Alistair Boscawen

Alistair has 32 years’ experience as an estate agent, starting in the country house department of one of London’s main international agencies before moving to the Knightsbridge house department of the same agency and learning the difference in values between freehold, long lease and short lease houses in Knightsbridge, Belgravia, Chelsea and Mayfair.

All articles by Alistair Boscawen


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