A Battersea alleyway has sold for over a quarter of a million pounds as the London property market continues to flourish.
The alleyway, between a coffee shop and a charity shop, was sold at auction this week where it had a guide price of £55,000.
Savills Auctions described the alleyway as having potential, as it is close to local amenities along Northcote Road, including its popular street market.
The unnamed buyer now has the option to redevelop the site as the 900 sq ft passage comes with planning permission for either a residential property or an artist’s studio.
Savills Auction’s Chris Coleman Smith told the Evening Standard that he was only a little surprised when the bidding reached £260,000, as the lot had attracted a lot of interest prior to auction.
“This is a classic example of a property finding its value in the auction room,” he said.
“The area around the property is red hot. We’ve sold all sorts of stuff over the years but this is maybe one of the most unique lots.”