This little patch of grass earns more than an average UK salary for owner
A small patch of grass in central London has made its owner more money than most people in Britain earn in a year after being snapped up at auction.
The lawn – measuring just 55ft by 40ft – in Chelsea was reportedly bought by a foreign owner this week for £84,000.
It last changed hands in the autumn of last year for £53,000, an increase of £31,000 in just nine months.
And this is despite the area having no planning permission for development.
Christopher Coleman-Smith, director of national auctions at estate agents Savills, which is handling the sale, said: “The new owner can do what he likes with it. I suppose he could put up a marquee when the flower show comes around.
He went to tell Zoopla: “Little bits of London, such as this, are in scarce supply and people want to get their hands on their own little piece of Chelsea.
“City environments can easily change and so this could be a very long term investment bought with grandchildren and inheritance in mind – who knows what it might be possible to do with it in 20 years time.”
Properties for sale in Chelsea for less than £250,000:
1. Leasehold garage for £8,500
2. Commercial property, suitable for redevelopment for £225,000
3. Two bedroom motor yacht, currently lying at Chelsea Harbour marina with moorings available to the buyer for £165,000