November 20th 2024.
A former caretaker's cupboard has recently been put up for sale in London at the jaw-dropping price of £250,000. It's no secret that living in London often means sacrificing space, with one of the highest population densities in Europe. However, this tiny property in a Grade II listed building is a perfect example of the current state of the London property market.
Measuring a mere 3ft wide at its tightest points, this ex-caretaker's cupboard is definitely not for the claustrophobic. The lucky owner of this property will be able to touch both walls at once, making it a cozy living space. But despite its small size, this property boasts a prime location in Zone 1, South Kensington, just a stone's throw away from iconic landmarks like the Natural History Museum and the Victoria and Albert Museum.
With its classic white stucco frontage and doric porches, this property exudes an air of elegance and sophistication, commonly associated with the most elite areas of London. And at a fraction of the cost of the average London property, it's no wonder that this ex-caretaker's cupboard has received so much attention.
Comparing it to the nationwide average, however, paints a less favorable picture. According to Gov UK, the average house price in the UK is currently £282,000, just slightly higher than the cost of this West London cubby hole. But for those who are willing to make it work, the typical monthly mortgage payment would be £1,115.31, as per data from PurpleBricks. And don't forget to budget for the annual ground rent of £100 and service charge of £1,380.
But don't let the small size of this property deter you. The current owner purchased it for £80,000 over 20 years ago, and it has now increased in value by over threefold. So while it may be a tight squeeze, it's likely to be a good investment in the long run.
If you're interested in this unique property, you'll be pleased to know that it comes fully equipped with everything you need. The open-plan kitchen, shower room, and mezzanine bed-come-sitting room make it a functional living space. And for extra storage, there's even a hallway cupboard.
According to the PurpleBricks listing, this property is a "superb pied-a-terre" that has been cleverly designed to maximize its small internal space. Its location in the heart of the highly desirable South Kensington area, known for its shops, museums, restaurants, and transport links, only adds to its appeal.
This area has earned a well-deserved reputation as one of the most sought-after places to live or invest in London, and it's easy to see why. Do you have a story to share about this ex-caretaker's cupboard or another unique property? Get in touch with us by emailing email. We'd love to hear from you.
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