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

March 9, 2015

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

Home and Living

Home longevity spas tipped to become the next must-have in prime property

Longevity expert has noticed a huge influx in home spas from investors Country and Townhouse reported that wellness is expected in luxury homes Ralph Montague discusses core shifts he’s seen over the past two years Once, cinema rooms, wine cellars and home gyms were considered luxury home features. Now, the next major trend in prime…
Read More →
Breaking News

Nationwide House Price Index for April 2026 – Thoughts from the Industry

House prices increased by 0.4% between March 2026 and April 2026. This was a weaker rate of monthly growth compared to the previous month (0.9%). Annual growth sat at 3% in April 2026, with this annual rate of growth increasing from 2.2% versus March 2026. The average UK house price now stands at £278,889.  …
Read More →
Breaking News

House price growth remained resilient in April

UK annual house price growth picked up to 3.0% in April, from 2.2% in March House prices were up 0.4% month on month Headlines Apr-26 Mar-26 Monthly Index* 554.8 552.7 Monthly Change* 0.4% 0.9% Annual Change 3.0% 2.2% Average Price (not seasonally adjusted) £278,880 £277,186 * Seasonally adjusted figure (note that monthly % changes are…
Read More →
Breaking News

Homeowners shift mortgage strategy amid economic uncertainty

Middle East conflict prompts Brits to rethink housing plans 27 per cent of homeowners report overpaying on their mortgage to get ahead of potential future interest rate rises 20 per cent of those remortgaging are looking to lock in a new rate as soon as possible in case of future volatility Barclays Mortgage data shows…
Read More →
Breaking News

Today is the day your rights change: New Renters’ Rights rules now in force for tenants across England

Today marks a major change for tenants across England as the first phase of the Renters’ Rights Act 2025 comes into force, significantly strengthening rights and changing how renting works in practice. From today, the long-standing system of Section 21 ‘no-fault’ evictions ends, meaning tenants can no longer be removed without a specific legal reason.…
Read More →
Home and Living

Mould Tops List of Bathroom Red Flags For Homebuyers

Mould, Space & Water Pressure: 3 Bathroom Deal-breakers Affecting House Sales This Spring   Almost 9 in 10 (88%) Brits say at least one bathroom issue would put them off making an offer on a house.   Mould (60%), lack of space (44%), and water pressure (37%) are the top three deal-breakers, with concern intensifying…
Read More →