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.
A 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.
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