_Is this the most affordable property for sale in Kensington & Chelsea?

When I started work at Knight Frank some time ago, one of things I was most proud about was to be working for a company handling some of the very best properties  all over the world. Thankfully this is still the case, in spite of a challenging global market.

A quick web search this morning produced an $82m Penthouse in New York , a $28m development opportunity on the glamorous West coast of Barbados as well as twenty-five properties for sale above £10m in Monaco and Mayfair.

Whilst we have remained a dominant force at the ‘top end’, we have been working hard to engage clients and buyers from the more accessible level of the market, a commercial cocktail comprised two parts choice, one part necessity.

To highlight the above, I am thrilled to have just taken instructions on the lowest value flat in the whole of Earls Court, SW5 (according to Rightmove). This studio flat has just been launched to the market at £260,000 with a mid-term lease of 61 years.

The lease extension is likely to cost around £30-40k meaning that you’re 'all in' for £300,000, less than half the price of an average flat in London.

If you’re a first time buyer then this means no stamp duty (hooray).  And if you’re lucky enough to be looking for a crash pad, it is ideal.

Is it big? Not really, at 292 sqft  in fact it’s really quite small. However, a statistic I enjoyed is that it is a smidgen larger than a Superior King room at the Ritz London (260 sqft).

Even better, you get a coveted Kensington & Chelsea parking permit, access to a garden square and you buy a flat on the street closest to the Earls Court regeneration project.

As we broaden our view to include all levels of the market my criteria is in clear focus – the common denominator must be ‘best in class’. In this case, I’m entering this flat as a nominee in the ‘most accessible foot on the Kensington & Chelsea property ladder’.

I have steadied myself for a deluge of activity.

To arrange a viewing, please contact Giles Barrett or Knight Frank's South Kensington office.