Leyton studio flat
Another tiny ‘studio flat’ is going to be sold at auction for a surprisingly high price.
The cost of buying a home in Waltham Forest has increased rapidly over the last few years, forcing the price of even the smallest properties through the roof.
Last week, a small shed-like structure in Markhouse Road, Walthamstow was removed from an auction after questions were raised over its paperwork, which described it as empty land.
It was listed for £70,000 with a promise of £200 per week in rental income for the new owner.
Despite the hefty price tag, the entrance to the studio is in run-down Markhouse Passage, which is littered with graffiti and rubbish.
Waltham Forest council said it would investigate the property.
Now, another tiny home in Leyton has been listed for auction.
Behind a shop in Gloucester Road is the ‘self contained flat’ which has a studio room and kitchen, shower and toilet.
This property is currently let for £190 per week.
The tiny building in Gloucester Mews is to go to auction on July 8 with a guide price of £85,000.
The average property price in Waltham Forest is about £330,300, up 28 per cent in 12 months.