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Rs 1.47 crore for flat the size of a snooker table

London: The purchase of a new home is traditionally celebrated with a housewarming party.

However, the buyers of this flat in West London might be well advised to keep the guest list as short as possible. For the bolt hole has a living area the same size as a snooker table and only slightly bigger than a prison cell.

At just 6ft by 12ft — plus a cupboard for a bathroom — it is the smallest property to go on the market in Britain.

Yet, amazingly, because the basement studio is in one of the capital’s most fashionable districts — Chelsea — it is on sale for £170,000 (Rs 1.47 crore), £2,000 (Rs 1.73 lakh) less than the average house price in England and Wales.

Even then, the buyer will need to splash out an extra £30,000 to make it habitable — including rewiring, refurbishing and redecorating.

The flat, in Cadogan Place, has been used as a cleaner’s storeroom for the past 20 years. At the moment it is a dirty, rubblestrewn room with paint peeling off the walls and a rotting windowsill. There is a shelf where a bunk bed could be placed, but the new owner will have to install a kitchenette and a bathroom.

Obviously, there is only room for one person — and if the buyer has a cat, there is barely room to swing it.

Even though the miniature flat went on sale only last week, six potential buyers have already looked round it and three have made offers – one matching the asking price. Estate agent Lane Fox, which is managing the sale, said the flat was ideal for someone who needed room for a housekeeper or au pair.

It might also attract those who need a cheap place to live during the week. Buy-to-let investors could rent it at up to £150 a week.

The firm’s associate director, Jason North, said that after refurbishment work the flat would be worth £2,400 (Rs 2 lakh) per square foot. This is double the £1,200 (Rs 1 lakh) per square foot that is the average for Central London. The flat is owned by other residents in the building, who put it up for sale to recoup the cost of buying the property’s freehold.

It is a short walk from the swanky shops, bars and restaurants in Sloane Square and less than a mile from Buckingham Palace and Hyde Park.

Source: Mumbai Mirror
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