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Studios on the up?

Studios on the up? Southwell House, 34 – 36 Egerton Gardens, London, SW3 2DB – Studio flat for sale for £1.375 million

Tiny Knightsbridge studio on the market for the bonkers sum of £1.375 million or £3,000 per square foot will set a new record if it sells for its asking price

 

Priced at £3,029 per square foot ($4,221 or €3,834 per square foot), a pint-sized studio flat in Egerton Gardens, Knightsbridge has been placed on the market for the not so insubstantial sum of £1.375 million ($1.916 million, €1.741 million).

 

Southwell House, 34 – 36 Egerton Gardens, London, SW3 2DB – The studio on offer is in need of some updating but is bright and has the benefit of a balcony

 

Comprising of just 454 square foot of accommodation on the first floor of a red brick block named Southwell House, the somewhat dated apartment consists of an 18’10” square room with a balcony, a tiny kitchen and an equally minute bathroom.

 

The apartment – which is accessed by a lift and comes with access to communal gardens – is for sale through Hobart Slater. If it achieves its asking price it will make another studio in Egerton Gardens that we featured in January 2016 seem cheap – that particular property was offered for £2,268 per square foot ($3,284 or €3,025 per square foot) or £1.175 million ($1.7 million or €1.6 million).

 

The exterior of the building and the communal gardens to the rear
A floor plan of the property illustrates how compact studios often truly are

 

If ever there were a sign of an overheating market, this is it: In 1988, a broom cupboard in Knightsbridge sold for £36,500 (the equivalent of £91,789 or $127,756 or €115,952 today). Months later, the economy collapsed and studios, given their limited appeal, were the first to see their values plummet.

 

 

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