Tiny lock-up workshop in Kensington goes on sale for £650,000… the same price as an eight-bedroom farmhouse in Northumberland
A garage which could become the most expensive to ever be sold in Britain has gone on the market for a staggering £650,000 – the same price as an eight-bedroom country pile in Northumberland.
The tiny lock-up workshop measures just 420 sq. ft., but its exclusive W8 postcode in Kensington, west London, means its price tag is more than double the national average for a family home in England.
The garage, which is being used to store tools, bicycles and furniture, is currently uninhabitable but the sellers insist it is a 'good deal' because it has the potential to be transformed into a small one-bedroom flat.
In contrast, an eight-bedroom farmhouse, which is nestled in sprawling countryside, is currently on the market for the same price in Northumberland.
The small garage in Kensington, west London (above), measures just 420 sq. ft., but its exclusive W8 postcode means it has gone up for sale for £650,000 - the same price as an eight-bedroom Northumberland country pile
The lock-up workshop, which is being used to store tools, bicycles and furniture, is currently uninhabitable
An eight-bedroom grade II listed farmhouse in Northumberland (pictured) is on the market for the same price
The Grade II listed barn conversion, situated on the edge of Northumberland National Park, is more than five times the size of the garage and comes with additional outbuildings.
Raglan International, the estate agency handling the sale of the garage in the desirable Lexham Gardens area of Kensington, believes it has the potential to be transformed into a studio flat.
Although planning permission to change the garage into a residence was granted more than 10 years ago, it's no longer valid and any buyer would have to reapply to turn it from a car storage unit into a home.
In its current state, the property has external parking for two cars on a forecourt and an electric, roller-blind garage door.
Christopher Mackay, spokesman for Raglan International, said: 'It is no ordinary garage.
'Although it seems ridiculously expensive, it's actually quite a good deal when you think about what it could be worth if it was turned into a home.
In its current state, the property has external parking for two cars on a forecourt and an electric garage door
Raglan International, the estate agency handling the sale of the garage in the wealthy Lexham Gardens area of Kensington, west London, believes it has the potential to be transformed into a small one-bedroom studio flat
'It's only been on our books ten days but we've already had a lot of interest.
'And every viewing is different because every prospective buyer gives you their vision of how they'd turn it into something special.
'If you did it well you could have a good sized one-bedroom flat, with two off-street parking spaces and sell it on to easily make 10 per cent of what you'd invested.
'It has the potential to be an incredible and unique property.'
In October, a smaller garage off King's Road in Chelsea sold for £550,000.
Tucked at the end of an alleyway behind a row of terraced houses, the outbuilding was described as being on an 'irregular shaped, broadly level site' and sold at auction after attracting a stream of investors.
The latest garage to go on the market is situated in the exclusive W8 postcode, where the average price for a detached home is more than £9million and flats often sell for over a £1million.
In contrast, the farmhouse is situated in Northumberland, where the average price for a detached home is slightly over £280,000.
The country pile is nestled in the idyllic upper Coquet Valley, in the rural village of Holystone.
The idyllic barn conversion in Northumberland also includes an additional two-bedroom detached cottage
The listed property is more than five times the size of the west London garage and has additional outbuildings
The Northumberland property is on the market for £650,000 - the same as its tiny London counterpart
Cherylle Millard-Dawe, managing director of estate agency Propology, said as well as a great investment as a family home, it could also provide additional income by doubling up as a holiday let.
She said: 'We love the peaceful, village location and the traditional country style this barn conversion offers.
'The high standard of renovation that makes country and contemporary work so harmoniously together.
'Not only does this property have the wow factor but it can also provide an income through the holiday letting route.
'It is quite rare to find a traditional barn converted to such a high standard in a lovely village location.
'We particularly like the separate Hemmel that comes included with this property. All in all it is a lovely home to gather family and friends.'
Cherylle Millard-Dawe, managing director of estate agency Propology, said the Northumberland property was a great investment as a family home, which could also provide additional income by doubling up as holiday lets
The farmhouse could be rented out as a holiday let, to provide additional income to the potential buyer
It has been renovated to a high standard, combining both an old-world style with a new, contemporary feel
The farm's estate is nestled at the end of a driveway, which and has a National Park well in its grounds
The farmhouse is nestled in sprawling countryside, and situated on the edge of Northumberland National Park
SOLD FOR £550,000: THE MOST EXPENSIVE GARAGE SO FAR TO SELL IN UK
If the garage in W8 sells for its £650,000 asking price, it will become the most expensive to be sold in Britain - beating a one-car garage which sold in Chelsea for £550,000.
The garage, off King's Road in Chelsea, London, sold at auction in October for the large sum, despite it measuring just 11ft by 7ft.
Tucked at the end of an alleyway behind a row of terraced houses, the outbuilding was described as being on an 'irregular shaped, broadly level site' which could be extended to 538 sq. ft., or just 0.013 acres.
Despite the size and awkward location, the Lamont Road garage attracted interest from a range of investors after planning permission was granted for it to be converted into an unusual home.
Planning permission was granted last year for the garage to be demolished, and replaced with a single-storey plus basement dwelling.
When completed, it will have two bedrooms, one with en-suite, living room, kitchen/ diner, toilet, guest shower room and patio.
The one-car garage, situated off King's Road in Chelsea, London, sold for £550,000 at auction in October
Source:- http://www.dailymail.co.uk/news/article-2882466/Is-Britain-s-expensive-garage-Tiny-lock-workshop-Kensington-goes-sale-650-000-price-eight-bedroom-farmhouse-Northumberland.html
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