A flat overlooking London‘s prestigious Harrods department store and Hyde Park is on the market for just £150,000.
The apartment is in Knightsbridge, one of the poshest areas of the capital where homes sell for an average of £3.3million, but there is a catch — the 89sqft (8.3sqm) pad does not come with a bedroom or bathroom.
Regulations introduced in 2011 prevent property developers building new homes that are smaller than 400sqft (37sqm).
But as the flat was first leased in 1976, the flat is not technically breaching current laws, despite the ‘blank canvas’ single-room not even featuring a toilet.
A flat overlooking London’s prestigious Harrods department store and Hyde Park is on the market for just £150,000, but there is a catch — the 89sqft (8.3sqm) pad does not come with a bedroom or bathroom
Regulations prevent property developers building new homes that are smaller than 400sqft (37sqm) but as the flat was first leased in 1976, the flat is not technically breaching current laws
Knight Frank, selling the house, said the flat complies with ‘all relevant regulations’ and added it comes with heating and hot water included in the service charge.
A spokesman told the Daily Telegraph: ‘The minimum space standards are only relevant to planning permissions in London for newbuild residential developments and converted properties constructed after 2011.
‘The property at Princes Court on Brompton Road was originally leased in 1976 and has been used as residential accommodation prior to the minimum space standards coming into effect.’
But politicians have blasted the ‘outrageous’ listing, saying it is demonstrative of the broken property market in the nation’s capital.
The flat overlooks Harrods department store in Knightsbridge, where average homes sell for £3.3million
For the same price, a homebuyer could get a two-bedroom house with a garden in Portsmouth, Chorley or Loughborough.
Thangam Debbonaire, Labour’s shadow housing secretary, said: ‘This outrageous advert is evidence of a broken housing market and shows why we need more truly affordable homes.’
It comes after Chancellor Rishi Sunak earlier this month announced the Government will maintain the temporary increase in the ‘nil rate’ stamp duty band at £500,000 in England and Northern Ireland until June 30.
From July 1, the nil rate band will reduce to £250,000, until September 30.
An additional 300,000 transactions in England could benefit from the stamp duty extension announced in the Budget, according to estimates.
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