26 Feb

Britain's smallest £1m home hits the market

Britain's smallest £1m home hits the market

A property measuring little more than the size of a train carriage has gone on sale in London for £1 million.

Located in Mayfair, the home has one bedroom, a kitchen, bathroom and living area all squeezed into 461 square feet and reflects the strong demand for homes in central parts of the capital.

As well as the £1 million asking price, the successful buyer will also have to pay a £3,000 per year service charge on the flat, although that does include the use of a 24-hour porter.

Peter Wetherell, the estate agent who is overseeing the sale, explained to the Daily Telegraph that a few years ago the property would have sold for around £250,000, but the attractiveness of the London area has pushed up prices significantly.

"You have some wonderful neighbours with this flat. You turn left and it is the Ritz and go right and you'll find Berkeley Square with London's oldest trees. You're right in the heart of Mayfair," added Mr Wetherell.

According to the latest house price sentiment index from Knight Frank and Markit Economics, property owners believe the value of their homes rose at the strongest rate in five years during February.ADNFCR-1222-ID-801698170-ADNFCR

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