London Property Market Not Slowing Yet!
An alley space on Northcote Road in Battersea has just sold for £260,000, supporting the idea that the London property market has not begun to slow yet. It also shows a growing trend in London for unique and often narrow properties, owing to the housing market crisis.
Between the Trinity Hospice charity shop and a Starbucks, this alley has only 900 square feet to boast of. It comes with planning permission for a residential space or potentially even an artist’s studio. As the guide price for this space at auction was only £55,000 it has been sold for nearly five times what it was expected to. Of course the location of this space makes all the difference: it is close to local amenities, the street market, and both Clapham and Wandsworth Commons
The director of Savills Auctions, Chris Coleman Smith, said "This is a classic example of a property finding its value in the auction room. The area around the property is red hot. We have sold all sorts of stuff over the years but this is maybe one of the most unique lots."
Read more at the London Evening Standard