Everyone will think I am bluffing if I say that there is a garage in London, which is being sold for £1.25million. But it is a fact my friend. The great hotelier Hilton once said that only three things matter when it comes to the success of a hotel: location, location, location. And this holds true for any real estate these days.
A property in a posh area means a meteoric rise in the prices of that land. Even if it is a rundown garage, complete with mildew and rusted panels. The garage that we are talking about is in the posh Primrose Hill in London, which is home to celebrities like TV chef Jamie Oliver and actor Jude Law. Kate Moss is also a frequent visitor. Estate agent Knight Frank believes that the property holds a lot of promise of development.
Though the planning permission for this site is not there, but construction can still start as it does have a free title. Knight considers it to be a ‘fantastic freehold’ and a goldmine for developers. Let us see if others share his optimism and this most expensive garage actually ends up being bought for that amount.