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Tiny storeroom in South Kensington sells for a staggering £82,500

A storeroom tucked away on a landing of a mid-terraced building has been sold for a staggering £82,500.

The tiny room, described as a 'suite', has an old Belfast sink and a window but plaster is coming off the wall and it's in desperate need of an overhaul.

Tiny storeroom in South Kensington sells for £82,500. Credit: SWNS

It is in the middle of South Kensington - where the average house costs £1.3 million.

Tiny storeroom in South Kensington sells for £82,500. Credit: SWNS

It was auctioned off by Allsop on Thursday

This was a rare opportunity and hard to price, therefore auction was a great way to determine the true value.

The room is small, but does have a sink and window. Interest came from people wanting to use it as storage or for a desk and phone.

– Stuart Gayer, partner at Allsop,

It initially had a guide price of between £30,000 and £50,000 but two people in the London auction room became involved in an intense bidding war.

Offers opened at £25,000. Credit: SWNS

Offers opened at £25,000 and quickly rose to £50,000 before the two individuals battled it out in £2,500 increments.

It sold for £82,500 - the same price as an immaculate three-bedroom terraced home in Liverpool.