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Friday, 17 March 2017
Tiny London house sells in Chelsea for £700,000 - £100,000 more than expected
A tiny house in London has sold for £100,000 more than the asking price.
The cottage in Britten Street in Chelsea sold for £713,823, despite going on the market for "only" £600,000 in February.
Estate agents say the home was subject to a last-minute bidding war, even though the building is in need of complete renovation.
Despite being 23 square metres (250 sq ft), the property includes a bedroom, bathroom, kitchen and reception.
Douglas & Gordon, which looked after the sale, say more than 100 people viewed the house.
It was eventually bought by Robin Swailes, who called it a "small but beautiful" property.
Sales manager Ed McCulloch described the house as "totally unique, a one-off" and said it was the smallest freehold property he had ever seen in Chelsea.
He also suggested Mr Swailes had made a wise move.
"When fully refurbished, the value of this proper Chelsea gem will almost certainly increase.
"Properties this unique are extremely rare, and the person who owns it can be safe in the knowledge that no-one else lives in a house quite like them."
Compared to the rest of the area, the property's a bargain - the average house price in the Kensington and Chelsea area is more than £1.9m, according to Rightmove.
An estate agent claimed the house could be worth £1m once it's done up.
There's no garden, but the house is right next to St Luke's Gardens, a local park.