A double garage in an upmarket part of London was sold for a record-breaking £670,000 this week.
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.”
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 Thame £670,000 will buy you this stylish penthouse conversion arranged over three floors, within a wonderful Grade II listed building with £20,000 to spare.
On the market with Hamnett Hayward Estate Agents, the Octagon home is perfectly situated within a short walk of the picturesque town centre and is a beautifully presented two bedroom penthouse converted from a former Victorian workhouse.
With elegant accommodation arranged over three floors this unique home offers a wonderful fusion of old and new, whilst enjoying conveniences including a 23’ kitchen/breakfast room, a magnificent open plan 24’ reception room and a 23’ master bedroom suite.
The London 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 Thame are pricey but still some way off the double garage, setting you back around £250,000 for this property in the town centre.
On top of the £670,000 spent on the garage, the new owner will also have to pay £23,500 in stamp duty.