£10,000 up front to rent a bathroom-sized London apartment.

Without even seeing it first, a tenant paid £10,000 up front to secure a bathroom-sized London apartment which had only been on the market for just over half an hour.

Located in eastern Soho border by Regent Street, the tiny flat was secured within minutes and was moved in to just two hours later with a sum of £10,000 paid in advance for the 301 sq ft of prime location living area.

It doesn’t really surprise me both in time it took to rent out and the cost someone is prepared for such a small living space just to be located in one of the most sought after areas of London. I wouldn’t call in madness, I’d call it a lifestyle choice as I know of many people desperately keen to live closer to London with the call of living just yards away from the famous landmarks and tube stations more appealing over size and quality of accommodation. Locations such as Mayfair, Bond Street, Green Park maybe out the reach now for nearly all of us, but just a few hundred meters away is still achievable and as shown, in high demand.

Quotes from Elizabeth Harris, Managing Director of E J Harris included:  “The speed of this deal and the battle to secure the tenancy is the clearest indicator yet to me how buoyant and hot London’s letting market is at present.”

 

Christopher Walkey

Founder of Estate Agent Networking. Internationally invited speaker on how to build online target audiences using Social Media. Writes about UK property prices, housing, politics and affordable homes.

You May Also Enjoy

Breaking News

Ticking time bomb that could be growing in your garden

Property industry body flags the ticking time bomb that could be growing in your garden rapidly during the summer months There have been widespread concerns about Japanese Knotweed over the years, but for those who may not be aware of the pesky plant, Propertymark highlights that now is the time to act, as warmer conditions…
Read More
Breaking News

Working-age Britons, poorest households

Working-age Britons, poorest households and the North East are suffering most from substandard housing, new data shows Never before seen analysis of the latest English Housing Survey has exposed the staggering inequalities in the monetary and social cost of living in poor-quality homes. In the North East, households are paying five times more than those…
Read More
Breaking News

Deposit Size Could Make or Break Your Budget in 2025

Mind the Deposit Gap: Why Your Mortgage Deposit Could Make or Break Your Budget in 2025 As UK homeowners and buyers face rising costs and tight affordability, specialist lender Hodge Bank warns that the size of your mortgage deposit could now play an even bigger role in long-term financial wellbeing. Hodge is urging homeowners and…
Read More
Breaking News

Government continues to withhold Renters’ Rights Bill court impact study

Government continues to withhold Renters’ Rights Bill court impact study, citing policy ‘safe space’ despite ‘unacceptable’ court delays Reapit appeals decision. The government has again declined to publish its Justice Impact Test for the Renters’ Rights Bill, this time in response to a Freedom of Information request, citing the need to preserve a “safe space”…
Read More
Breaking News

Urban Property Values Outpace Coastal & Countryside Markets

City Living Resurgence as Urban House Prices Outpace Coastal and Countryside Markets The latest research from eXp UK has found that city living is firmly back in favour, with the nation’s major cities seeing a stronger average rate of house price growth compared to coastal and countryside locations. The research by eXp UK analysed the…
Read More
how to present your property for sale
Breaking News

This one property size has grown by almost 20% in the last five years

The latest research from over-50s property specialists, Regency Living, reveals that the average size of park homes in England has increased by almost 20% over the past five years, reflecting a growing demand for park homes as primary residences, not just holiday getaways. Regency Living has examined the five-year change in the average footprint of…
Read More