London property market shows no signs of slowing down as alleyway sells for £260,000

 
Sold: the alleyway in Wandsworth (Picture: Savills Auctions)
Rachel Blundy29 October 2014

London's property market is showing no signs of slowing down after an alleyway sold for £260,000.

The space between a charity shop and a Starbucks on Northcote Road in Battersea was snapped up for almost five times its original guide price of £55,000.

The buyer now has the option of developing the passageway into a residential or artist's studio as it comes with planning permission.

But it will be a tight squeeze for whoever eventually inhabits the narrow space - which stands at just 900 square feet.

For the same price, property hunters could purchase a five-bedroom semi-detached house in Manchester or a four-bedroom family home in Suffolk.

In an online description, Savills Auctions said the potential property offered "local amenities along the length of Northcote Road, including its popular street market".

The site is also close to Clapham and Wandsworth Commons.

Chris Coleman Smith, director of Savills Auctions, said he was only a "little bit" surprised by the amount the alleyway sold for as it had "attracted a lot of interest".

He told the Standard: "This is a classic example of a property finding its value in the auction room. The area around the property is red hot. We have sold all sorts of stuff over the years but this is maybe one of the most unique lots."

The sale highlights an ongoing trend for narrow homes in the capital as London's housing crisis continues.

Create a FREE account to continue reading

eros

Registration is a free and easy way to support our journalism.

Join our community where you can: comment on stories; sign up to newsletters; enter competitions and access content on our app.

Your email address

Must be at least 6 characters, include an upper and lower case character and a number

You must be at least 18 years old to create an account

* Required fields

Already have an account? SIGN IN

By clicking Create Account you confirm that your data has been entered correctly and you have read and agree to our Terms of use , Cookie policy and Privacy policy .

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Thank you for registering

Please refresh the page or navigate to another page on the site to be automatically logged in

MORE ABOUT