This house in Milton Keynes costs the same as a garage in London
The lockup is sandwiched between two large homes near the River Thames in Chelsea, south-west London.
Chris Coleman-Smith, from Savills Auctions, said: “It is like a little oasis in Chelsea. It is a fantastic spot, north of Cheyne Walk and south of the Kings Road.”
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The auction house, which described the garage as being in “the best part of Chelsea”, gave it a guide price of £525,000 - two-and-a-half times the price of the average home in England and Wales.
Bidding quickly exceeded the estimate as investors battled it out to get their hands on the 332 sq/ft garage.
The new owner, a London-based phone bidder, managed to outbid a number of people with a final offer of £670,000 for the garage.
In Milton Keynes £670,000 will buy you this lovely modern four bedroom home on Chase Avenue in Walton Park with £20,000 to spare. The house, on the market with Michael Graham Estate Agents, boasts more than 2,500 sq ft of accommodation.
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The Californian style property has accommodation which includes an entrance hall, a sitting/dining room, a family room, a kitchen/breakfast room, a conservatory and a study/fourth bedroom. There is a master bedroom with en suite bathroom, two further bedrooms and a family bathroom. There is also an enclosed rear garden and - crucially - a double garage.
The garage sale is - only slightly - less staggering when you consider that the current owner has secured planning permission to convert it into a one-bedroom home.
One bedroom flats in MK start at around £42,000 - the price of a property at Wetherburn Court.
On top of the £670,000 spent on the garage, the new owner will also have to pay £23,500 in stamp duty.