London property goes on sale for just £160,000
For most people, the closest they'll get to buying a property in London is playing Monopoly.
Surprisingly though, it turns out you won't have to break the bank to buy a home as one Ealing flat is currently on sale for £160,000. And no, it's not a little garage stuck to the side of someone's gaff.
However, you might want to think carefully about taking a chance on this London pad as there are a few snags.
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In fact, you might feel like you've been sent to jail after seeing the size of the Castlebar Road flat, which is only 25.1m2 in total.
While it's in a desirable area and just minutes from Ealing Broadway, you might not won't to roll the dice on this one.
Potential buyers might not be able to make a deal with the banker either, as experts suggest it may be hard to secure a mortgage on such a small home, with the property only open to cash buyers.
Therefore, it might be a better fit for buy-to-let investors who have been keen to view the property, explained the estate agency Hunters.
Sales negotiator Ivanka Komeda told the Evening Standard: “It is in a good location, just five minutes walk from the Tube, it needs renovation but could then achieve rent of up to £1,300 per month…It would suit a single young professional."
The property is only accessible down a flight of stairs and shares the ground floor with three other flats.
While it does have a separate shower and toilet (what luxury!), the studio is only 3.5m wide meaning that the bedroom, living room and kitchen are squeezed into one long room.
Though there are some cupboards and a ‘breakfast bar’ in the kitchen, there isn’t much space for anything else apart from one window.
According to the agency, the home will now go up for auction and could secure a price of up to £180,000.
However, the Castlebar Road property has yet to receive any formal offers.
It seems property really does cost the Earth nowadays, as a different London property sold for a whopping £995,000 in 2020 – despite only being 1.65m wide.
Within walking distance of Shepard’s Bush Market, the Goldhawk Road home was a former hat shop that had been converted into a luxury home.
Though it was a tight fit, the small house came with stunning parquet flooring, an art deco bathtub and was spread over five storeys.
Seems London homes will leave you flat bloke nowadays.
Katherine Sidnell