Ridiculous London properties

[TheVeryHungryTortoise]

Christ alive. I live in London but sometimes this damn city makes me question everything and everyone. It genuinely saddens me that some poor soul was living with a bed, next to an electric hob, next to a shower cubicle.

I present to you: London property rip-off of the week!
www.zoopla.co.uk/for-sale/details/54325598?search_identifier=dd2cff98b64b235a01180d710d0e9f0e

Anyone else seen any other property "gems" recently that they would like to share?

If your budget is 200k, you might want to think of commuting.

Thats awful and is it even legal. Its just a room.

Erm. Where’s the toilet?

And it needs major renovating???

I live in the north west and that price would get you a semi in a nice area

Absolutely amazed that someone’s box room is worth £200k.

It may well be in Notting Hill but that is ridiculous.
That is why they are saying it is cash only as no one would lend on that

@CoffeeRunner the toilet is shared. I know people who live in such a setup. Its around £700-800 rent generally.

As a point of reference, my 2 bed flat in zone 3 London is £400k so only double of that budget and market rent would be around £1400-1600. But for that you get 2 bedrooms, a reception room and kitchen. So in a sense you aren't saving much by staying in this Chelsea studio compared to sharing with another professional in East Finchley except transport costs. I guess if you live in Chelsea maybe you could cycle everywhere but there doesn't seem to be storage for a bike, so if you pay for transport, zone 1 travel card is £138 compared to zone 1-3 which is £162. So all you are saving is £24.

I don't think it's intended to go to an owner occupier. This is a landlord who has made lots of money from renting out this room, has got to the stage where it needs serious work on it, cba with the hassle and is looking to offload to another landlord for cash, no questions asked.

The toilet is in that cupboard in the corner. It is on the floorplan.

That's a super nice area to be fair.

Personally I'd rather live in a house share, but if someone wants to have the privacy of a tiny studio then fair enough.

Weekly repayments on a mortgage for that would be around £200 per week. I'd guess that's similar to a house share in that location.

I wonder if it’s even considered a self-contained residential unit from a legal point of view?

I can’t imagine who buys such hovels or what for.

It would be ok for the 3/4 nights in town and then go back to country pad type person, rather than being a main residence. You’re paying for the postcode and letting income, rather than the square footage here.

It’s not even a nice area! But the price is about right for there.

It would be ok for the 3/4 nights in town

I don’t think I could do it. It’s got the sq footage of a box room. Id probably prefer to rent sb’s spare bedroom during the week and invest money elsewhere rather than buy the (bolt) hole.

It's a bargain as it's been reduced by £50k

27th Feb 2020
£200,000
Price reduced by £50,000
20th Feb 2020
£250,000
First listed

Probably horribly noisy too.

@chickenkatsu sorry should have clarified that I'm not looking for a property at the moment, I just like having a look every now and then. Completely agree that commuting would be sensible for that budget.

I realise I could have many more opportunities in London but I'll never afford to live there.

My current house was less than 150k 3 bed link detached.

Thats actually right down the road from me and it was sent round on the NCT chat this morning!
I can't believe that this is legal, isn't there a min square foot a 'studio' needs to be?
Saying that (and I know I will be shot down), the area is amazing and if I was single and only had 200k I might be tempted.

@Username7521 sounds like you do love your area a lot

It's very grim. But the location might be enough for someone to want to want to buy it though. Many live there 4 days a week for work and the rest of the time in at your family home?

When I worked in the City Bethnal Green (when it was only home to locals, artsy types and students) was where men of a certain type would keep a 'pad' for 'entertaining the ladies'...

I imagine for someone who is only in the city for 3/4 nights they are barely in their room - they'll be working long hours and eating out a lot, I'd imagine? Still shit though.

For just £10k more! www.zoopla.co.uk/for-sale/details/50952591

@CoffeeRunner

Erm. Where’s the toilet?

To the right of the door.