- Miniature outdoor space measures just one-hundredth of an acre
- Land in desirable Fulham, London, sold for a rate of £272 per square foot
- Tiny garden threatened to spark bidding war with 100 potential buyers
14:54 EST, 30 October 2013
18:23 EST, 30 October 2013
A tiny strip of land which is only the size of two snooker tables has been sold for just over £120,000, making it one of the country’s most expensive gardens.
The minature outdoor space measures just 440 square feet, or one-hundredth of an acre, and was sold for an incredible rate of £272.73 per square foot.
The land in desirable Fulham, West London had been due to go under the hammer with auctioneers Strettons, who had set a guide price on it of £85,000.
Pricey: the tiny plot, behind the yellow and pink fence has sold for an incredible £120,000 – despite being the size of just two snooker tables
However, after threatening to spark an intense bidding war between neighbours it was snapped up by one nearby resident just before the auction.
More than 100 buyers had been interested in the sought-after street-corner plot, not far from Fulham Broadway station, according to the magazine Estates Gazette.
A large tree currently stands on the land, which is surrounded by fencing.
Desirable: The tiny plot of land near Fulham Broadway station fetched £273 per square foot – despite not having planning permission to build on it
Sold: The land had been set to go under the hammer but was snapped up before the auction after attracting the interest of more than 100 would-be buyers
The sales catalogue had described the land as being suitable for a number of uses, including a car park, subject to planning permission.
However, past owners have tried – and failed – to obtain consent to build on it.
The garden’s huge selling price is a sign of the flourishing property market in London and the South East.
London house prices have risen by an average of £50,000 in the past month alone.
LOCATION, LOCATION, LOCATION – CRAZY PRICES PAID FOR TINY PLOTS
In June 2010, a 20ft by 12ft plot of land in St. Ives, Cornwall was sold as a car parking space for £60,000.
Canny councillors in West Lothian, Scotland, sold a 29.5sq ft plot of unused land to a neighbouring landlord for £1 million in October 2004. He had intended to sell his adjoining site to developers, but the council owned the strip of land linking the two plots.
Neighbours in Whitchurch, Bristol, made a combined £2.5 million when they sold sections of their back gardens to developers building a new housing estate in April 2009.
Buyers paid £3.5 million for a run-down home destined for the wrecking ball in the south coast millionaire’s resort of Sandbanks, Poole, Dorset, earlier this year.
In July 2009 a 14,990 sq ft empty plot of land on Sandbanks was put up for sale for £13.5 million – the equivalent of nearly £900 per square foot.