Former garage in North London on sale for £250k and advertised as a ‘studio’

Former garage costs the same as a six-bedroom detached house in Barnsley
Property, which measures 224 sq ft., has a kitchenette and bathroom

By
Rachel Rickard Straus

PUBLISHED:

11:13 GMT, 20 August 2013

|

UPDATED:

14:28 GMT, 20 August 2013

To the untrained eye, this property may look like a garage.

But according to estate agent Winkworth, it’s a ‘one-bedroom studio’ – and it’s on the market for £250,000.

The former garage in Highgate in north London is going for same price as a six-bedroom detached house in Barnsley or a four-bedroom villa with pool in Alicante.

Des res: The former garage is nestled in North London's Highgate Village

Des res: The former garage is nestled in North London’s Highgate Village

It boasts a kitchenette – which appears
to be a sink and hob atop a small fridge and one cupboard – as well as a
small bathroom.

The property, which measures 224sq ft is also available to rent at £300 a week and can be used as an office.

Winkworth estate agents said that the owner does not want any publicity for the property and has removed the listing ‘in order to clarify and make clear of the usage rights’, a spokesman said.

For those still unconvinced that London is on its way to a property bubble, a converted garage is arguably a tell-tale sign.

it is situated in a mews off Highgate High Street, where just down the road a six bedroom house will set you back £25million.

Light and airy: The room has been fitted out with a little window and skylights

In another strong sign that the property
market is strengthening, new research released today revealed that the
number of properties available for sale that have been discounted has
fallen sharply over the past 12 months.

The proportion of properties on the market with an asking price that has been reduced at least once has fallen from 37 per cent last year to 32 per cent today, according to research from Zoopla.

Buyers are even less likely to bag a discount in London. The capital continues to have the lowest proportion of discounted properties on the market with less than a quarter (22.8 per cent) seeing their asking price reduced once they are listed for sale.

Meanwhile properties in Barnsley are most likely to be reduced – 42.7 per cent are currently on sale for lower than their original price.

Conversion: The space has been fitted out with a shower and toilet

The average asking price of a home in England and Wales has jumped by around £20,000 since the beginning of the year, a report revealed yesterday.

A typical home advertised for sale in an estate agent’s window now has a price tag of £250,000.

The sharp increase comes amid growing concern that Government schemes to boost the housing market may be fuelling another house price bubble.

At the beginning of January the average
asking price was £228,989. Today it is £249,199, a jump of £20,210,
according to the report from Rightmove.

In London, the affordability crisis
facing anybody wanting to get onto the housing ladder, or move to a
larger home, is even more acute.

On the market: For the same price you could buy this six-bedroom detached house in Barnsley

Or this...: This four-bedroom villa with pool in Alicante, Spain, costs just over five grand more at £255,673

Or this…: This four-bedroom villa with pool in Alicante, Spain, costs just over five grand more at £255,673

The average asking price in London hit £501,067 this month, compared to £454,875 in the same month last year, according to Rightmove.

The garage-turned-home may be expensive but it’s cheaper than a Hyde Park parking space.

A parking space was put on the market two weeks ago for a record-breaking £300,000 – almost twice the price of the average UK home.

The spot in London’s exclusive Hyde Park Gardens measures just 11ft x 12ft, but its price tag is almost double the £162,000 paid for the average house sold in England and Wales last month.

Estate agents Kay Co, who last year sold two nearby parking spaces for £250,000 each, said several people had already expressed an interest in snapping up the six-figure spot.

The agent said parking spaces are in hot demand in Hyde Park Gardens, where houses cost up to £15million.

Its buyer will be paying £1,299 per square foot for the privilege of owning a central space in Westminster.

The comments below have not been moderated.

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And no doubt there’s going to be an idiot out there who will buy it.

–

Lady Penelope
,

Creighton Ward Mansion,
21/8/2013 21:57

It looks terrible from the outside and its way overpriced for just a converted garage

–

LadyxxxMystery
,

London, United Kingdom,
21/8/2013 20:36

I would much rather live in a beautiful home in a not so popular area than an awful home in a sough after location to be honest. Once you shut your front door, you could be anywhere – it doesn’t matter. The only exception I would make to this is anywhere ‘oop north’ – no thanks!

– Lisa, The Beautiful South, United Kingdom, 20/8/2013 13:22

Lisa, we in the Beautiful North work hard to promote to southern ignorami, such as yourself, the fallacy that it is grim up here. It works to a large extent and our beautiful counties and medieval cities, our culture, heritage and our fabulously regenerated urban centres remain largely untainted by the sounds, the sights and the ill-informed prejudices emanating from your kind. Long may your ignorance conserve our advantage!

–

Pieceworker
,

Lytham, United Kingdom,
21/8/2013 10:41

I would not even live in London. It has changed for the worse, from my previous 50 years living there. A pigsty is cleaner and smells better!

–

rapier
,

london,
21/8/2013 09:42

BA HAHAHAHAHA. You could not PAY ME to live in London. What a overpriced crime infested dump!!

–

Les
,

Perth, Australia,
21/8/2013 09:36

I hope they got planning permission for change of use from garage to habitable accomodation !! Or else it can’t be used or sold as.

–

lucybrinham
,

Hayle,
21/8/2013 08:13

It is either a one bedroom or a studio. Is this another “estate agent speak” as they call a mid terrace house a cottage?

–

gran 1
,

devon,
21/8/2013 07:57

The house in Barnsley looks gorgeous. I have lived in Barnsley too. Great place and great people too. The shed in London looks ridiculous. A non-story this one DM. Something which you seem to specialise in.

–

Bob
,

Melbourne, United Kingdom,
21/8/2013 07:31

Out here that money would buy you a few thousand acres with a homestead and stock.

–

Jack Outback
,

Qz Donga,
21/8/2013 06:19

Or you can get a 2-bedroomed terraced house in the northeast of England for less than £20,000 “in need of some TLC” within walking distance of a station on the East Coast main line that can take you to London in 3 hours and you can work while on the train.

–

Finkelstein
,

TwelveInch Turkey Sub Sandwich, South Georgia And The South Sandwich Islands,
21/8/2013 03:22

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Former garage in North London on sale for £250k and advertised as a ‘studio’

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