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Image source, Next Home Ltd
The 11 sq m (121 sq ft) third floor terrace is on the market for £50,000
With South Kensington properties often selling for millions, it is perhaps not a surprise that a £50,000 listing has seemingly attracted much interest.
However, the “unique opportunity” on sale is in fact a small third-floor terrace at the back of a building.
The 11 sq m (121 sq ft) space is being sold independently of its adjoining property but has its own staircase.
The agent behind the listing said it had proved so popular “we could easily tie it up 10 times a day”.
Glenn Jacobs, a managing director at Next Home Ltd, said his firm had received about 230 leads on the listing, with people coming up with “creative solutions” for the astroturfed space, including putting up a conservatory or tent.
“It’s a massively desirable postcode, with flats going for £1.2m,” Mr Jacobs told the BBC.
“If you’re able to pick up a flat for £1.2m then the terrace isn’t bad.”
The terrace is at the rear of another property on Stanhope Gardens
The space, which measures 3.4m (11ft) by 3.4m (11ft), has been used as a postal address by its current owner.
It is described in its online listing as being a 20-minute walk from Harrods and an ideal place for people looking to “expand their business or property portfolio”.
“Its convenient location makes it suitable for someone seeking a prestigious central London address, perfect for both business opportunities and recreational purposes,” the listing adds.
‘A premium feel’
Mr Jacobs said he had expected most interest to come from people living in nearby properties in Stanhope Gardens who wanted the terrace for some outdoor space.
However, he said he had been “shocked by the amount of interest from foreign nationals” with some asking if it could be set up as a PO box as “you’ve got clout by having a business listed in that area – it gives it a premium feel”.
“We could easily tie it up 10 times a day, but we don’t want it to be a compromised sale,” he added.
The agent has urged prospective buyers to do their due diligence about what options are available to them if they are considering making an offer for the terrace.
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