An apartment with Harrods, Hyde Park and Buckingham Palace on its doorstep is on the market for just £295,000
The average asking price in the super-exclusive SW1X postcode is more than £2.5 million, according to Zoopla, with some properties fetching in excess of £100 million.
But a studio apartment on Pont Street gives someone on a tighter budget the chance to live among some of the Britain’s wealthiest residents.
The pint-sized 300sq/ft property, 450m from Harrods and just a short walk from Hyde Park and Buckingham Palace, has a living and sleeping area, modern bathroom and a kitchen.
It has been put on the market with Knight Frank for £295,000 - making it around £250,000 cheaper than any other home currently for sale in the SW1X postcode.
The most expensive place to currently buy is One Hyde Park, a short walk away, where a five-bedroom flat is currently on the market for £55 million. A penthouse in the same block sold for £120 million.
Knight Frank says the apartment is in “great condition” and has the potential to be converted from a studio into a one-bedroom apartment.
One reason for the bargain price for the studio is the fact that the lease on it expires in 16 years - meaning it works out at around £1,500 per month.
Alice Turner, an agent in the Knightsbridge office, added: “This is a unique opportunity to purchase a bright, dual aspect studio flat in a prime Belgravia address for under £300,000.
“The flat offers the potential to create a full one bedroom residence, making it the perfect pied-a-terre or rental investment for a prospective buyer.”
There are currently two studio apartments in the area on the rental market for a similar price but they are almost half the size of the home on Pont Street.
