You won't find much for under £200,000 in Chelsea if you're looking to buy a property. But you might be able to afford at least one thing in that price range: a single garage. Tucked away off Brompton Road in west London is a 146 sq ft garage that will go up for auction on February 16 with a guide price of £180,000 – meaning it could still go for a lot more under the hammer.
It has an electric door and is freehold. At the guide price it works out at a whopping £1,233 per sq ft. But Savills, the estate agent selling the garage, reckons it's a good deal. "Garages are an increasingly rare commodity in central London, where even some of the highest value properties lack off-street parking," said Chris Coleman-Smith, head of Savills auctions.
"For local residents who have invested in cars as well as their homes, the chance to purchase a secure and conveniently located garage simply can't be missed. The lot we're selling at Crescent Place benefits from a sought-after position close to South Kensington tube station and a number of London's top attractions, including The Natural History, V&A and Science Museums as well as the Royal Albert Hall. This also gives it great potential to be rented out if not in use."
Land Registry data shows the average house price in Kensington and Chelsea is £1.37m. The average for London as a whole is £514,097. Elsewhere in the country, £180,000 will buy you a decent-sized family home.
It's not the most expensive garage to have gone on sale in London though. A freehold double garage near the luxury department store Harrods in Knightsbridge went on sale with a £525,000 price tag in 2012. And a former coach house in Camberwell, south London, went for £550,000 in 2014 -- thought to be the most expensive garage ever sold in Britain.