This house in Burnley costs almost the same as a garage in London

A double garage in an upmarket part of London was sold today for a record-breaking £670,000.
The stunning house in Reedley Drive, on the market with Fine & Country, WhalleyThe stunning house in Reedley Drive, on the market with Fine & Country, Whalley
The stunning house in Reedley Drive, on the market with Fine & Country, Whalley

The lock-up is sandwiched between two large homes near the River Thames in Chelsea, south-west London.

Chris Coleman-Smith, from Savills Auctions, said: “It is like a little oasis in Chelsea. It is a fantastic spot, north of Cheyne Walk and south of the Kings Road.”

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The auction house, which described the garage as being in “the best part of Chelsea”, gave it a guide price of £525,000 - two-and-a-half times the price of the average home in England and Wales.

The garage in London. SWNSThe garage in London. SWNS
The garage in London. SWNS

Bidding quickly exceeded the estimate as investors battled it out to get their hands on the 332 sq/ft garage.

The new owner, a London-based phone bidder, managed to outbid a number of people with a final offer of £670,000 for the garage.

In Burnley, £665,000 will buy you this stunning, detached, five-bedroomed house in Reedley Drive which is beautifully appointed throughout and includes many original features from when it was built around 1921 as a mill owner’s residence. It features a Mills and Scott kitchen with AGA, a stunning media room, master bedroom with a sun balcony, a separate self-contained annexe, a substantial garden with patio.

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The garage sale is - only slightly - less staggering when you consider the current owner has secured planning permission to convert it into a one-bedroom home.

The garage in London. SWNSThe garage in London. SWNS
The garage in London. SWNS

One bedroom flats in Burnley start at around £35,000

Previously, a garage in Stoke Newington, London, sold for £309,000 against a guide price of £160,000.

For that price in Burnley you could buy a four-bedroomed, detached, family home in Ightenhill.

On top of the £670,000 spent on the garage, the new owner will also have to pay £23,500 in stamp duty.