‘Cheapest flat in capital’ goes on market for £75,000 in desirable east London area

'Least expensive': The tiny flat in Clapton
Purplebricks
Tom Marshall27 December 2015

A flat claimed to be the cheapest in London has been put on sale for just £75,000.

The studio flat is yards from trendy high street Chatsworth Road in Clapton, a highly sought-after area in Hackney, east London.

The average price for a flat in Clapton is closer to £400,000.

Estate agents Purplebricks are marketing the property as the capital’s "least expensive", writing in their brochure: “Your eyes are not deceiving you... [this is] the least expensive flat in London.”

'Handsome period building': The flat is in a desirable area in east London
Purplebricks

The tiny first-floor property in Saratoga Road is just 84 sq ft and has a sink inches from the single bed. It also features a kitchenette, with mini fridge and microwave, and a shower room.

However, the agents point out that it is available for the price of a family car - albeit a "high-end" one.

It is also significantly cheaper than the cost of a parking space in some of London’s most expensive districts. In August, one parking space in South Kensington sold for just over £200,000.

'Well presented': Entrance to the shower area
Purplebricks

The estate agents describe it as a “well presented” property in a “handsome period building”.

Advantages include a lengthy 996-year lease and relatively cheap service charge.

However, one major snag other than the size - which may also account for the low starting price - is that only cash buyers will be considered.

The brochure adds: “This is an exceptionally rare opportunity for a first time buyer, landlord or commuter seeking a bolt hole to purchase a property in a desirable part of London for the same price as a high-end family car.

“The property has been freshly decorated and benefits from a newly installed period sash window.

“Saratoga Road is located close to the open green-spaces of Millfields Park and popular Chatsworth Road offering an array of cafes, bars and restaurants as well as transport links giving easy access to the City and West End."

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