A London flat that is smaller than a parking space has received two offers at £15,000 over asking price – despite the bathroom being smaller than a Portaloo. The tiny room that is currently covered in grime and rubbish, features a small toilet and shower. Those looking to purchase the home will need to be all-cash buyers, and will likely have to spend thousands of pounds on re-doing the tiny home.
The flat, which is on the market for £165,000, is located in pricey Kensington and is within walking distance to popular Chelsea’s Kings Road. And estate agents May&Co, who are marketing the rooms, confirmed they had received two offers above the asking price at £175,000.
Properties alongside the flat have an average house price of £1,153,000 – with full Chelsea townhouses in the same area fetching more than £32,000,000.
Local estate agents May&Co called it: “A small bedsit type studio flat in need of complete modernisation throughout, offered with a 58-year lease and vacant possession.
“Located on the first floor at the back of the building, this flat is very quiet and is accessed via Fawcett Street. Cash buyers only. Offers in excess of £160,000.”
The room stands at just 11.7 square metres – making it just two-thirds of the size of a disabled parking space.
The flat appears to be the top floor of a large Kensington townhouse.
It consists of a main room, a doorway and a bathroom – which measures to be smaller than a Portaloo.
It is sold in “vacant possession”, which means it must be handed over in a state where the buyer cannot be prevented from moving in.
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Conor O’Shea, the Policy and Public Affairs Manager of affordable housing charity Generation Rent blasted the property as a spectacle of London’s property crisis.
He said: “This flat and many others like it indicate the difficulties faced by renters and buyers alike in this market.
“Rents are as unaffordable as they have been in many years, underpinned by a lack of supply of homes across the country.”
The flat currently features a barely visible red carpet that is covered in a layer of mud, with the brown walls also covered in dirt.