London Balcony for Sale – Unique Investment Opportunity
Introduction
Are you tired of the conventional real estate investment options? Looking for a unique opportunity to expand your property portfolio? Well, we have just the thing for you! A third-floor terrace in South Kensington has been listed for sale, offering an unconventional investment opportunity that is sure to pique your interest. This large, AstroTurfed balcony, measuring 3.4×3.5m, comes with its own title and 110-year lease, making it a standalone property. Let’s dive into the details and explore the potential of this extraordinary investment.
Location and Features
The terrace is conveniently located on Stanhope Gardens, in close proximity to Gloucester Road Tube station. It offers a breathtaking view overlooking a neighboring mews street and is surrounded by a stylish metal railing. Its central location in Kensington makes it an appealing investment option for individuals seeking a prestigious London address.
Endless Possibilities
What sets this terrace apart is its versatility and endless possibilities. The separate property status allows you the freedom to explore various options:
1. Outdoor Expansion
For residents of the same building, the terrace can serve as a perfect extension of their living space. Whether you’re looking to create a cozy outdoor seating area, a mini garden, or a space for entertaining guests, the terrace provides a unique opportunity to enhance your residential experience.
2. Creative Ventures
Are you an artist searching for an inspiring space? Look no further! The terrace can be transformed into a creative haven. Whether it’s painting, sculpting, or any other form of art, this open-air canvas allows you to unleash your creativity like never before.
3. Commercial Ventures
Entrepreneurs and business-minded individuals can also benefit from this rare investment opportunity. The terrace can be utilized as a commercial space, offering a central location for a small cafe, boutique store, or a cozy co-working area. The possibilities are truly endless.
Public Interest and Mixed Uses
Since being listed, the terrace has garnered significant public interest, with nearly 200 inquiries pouring in. The range of proposed uses is diverse and showcases the versatility of this investment opportunity. People are considering everything from living in a tent on the terrace to building a conservatory or using it as a dedicated arts space. The lease allows for all these options, attracting a wide range of investors.
London’s Housing Market Challenges
The staggering interest in an unconventional investment like a £50,000 balcony highlights the ongoing challenges in London’s housing market. With skyrocketing property prices and soaring rental costs, individuals are forced to think outside the box and explore alternative housing options. The fact that a relatively small outdoor space is being considered as a viable living option is a stark reminder of the desperate need for affordable housing solutions in the city.
Investing in London Real Estate
London’s real estate market has long been known for its resilience and strong returns on investment. As property prices continue to rise, owning a stake in the city’s lucrative market remains a coveted achievement.
Stanhope Gardens – A Prized Location
Stanhope Gardens holds a special place within the London property landscape. With an average property cost of £1,388,750, living in this prestigious neighborhood is a testament to one’s success. The opportunity to own a separate property in this highly sought-after area is truly exceptional.
Expanding Your Portfolio
For seasoned property investors looking to diversify their portfolio, the terrace presents an exciting opportunity. Its uniqueness and potential for various uses make it an intriguing addition to any investment strategy. Whether you choose to capitalize on the terrace’s commercial aspects or simply expand your residential properties, this investment promises long-term potential and attractive returns.
London’s Creative Side
London has always been a hub for creativity and innovation. The terrace offers aspiring artists, entrepreneurs, and entrepreneurs a chance to tap into London’s creative energy. By owning this space, you become a part of the vibrant art scene and connect with like-minded individuals. It’s an investment that goes beyond financial gain, creating a sense of community and inspiration.
Conclusion
The listing of a £50,000 balcony as a standalone property showcases the ingenuity and adaptability of Londoners. In the face of a challenging housing market, individuals are exploring unconventional options and finding creative ways to live and invest. The terrace on Stanhope Gardens represents an exciting opportunity for those looking to expand their property portfolio, create a unique outdoor space, or express their artistic talents. It’s a private oasis in the heart of London, waiting for someone to unlock its full potential. Don’t miss out on this extraordinary investment opportunity. Contact us today to learn more!
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third-floor terrace — or large, AstroTurfed balcony, rather — has been listed for sale in South Kensington for £50,000.
Located on Stanhope Gardens, close to Gloucester Road Tube station, the 3.4×3.5m terrace is surrounded by a metal railing and overlooks a neighbouring mews street.
Rather than adjoining an apartment, the terrace is registered as a separate property with its own title and 110-year lease.
“It’s a standalone terrace area – you come up some stairs, there’s a door to access it and there’s literally just a terrace there,” says agent Glenn Jacobs at Next Home Ltd.
Stanhope Gardens, where the average property costs £1,388,750
/ RightmoveThe property is advertised as “ideal for individuals looking to expand their property or business portfolio”, or, because of its Kensington location, “suitable for someone seeking a prestigious central London address”.
Jacobs, who says this is the first terrace he has listed, anticipates that the balcony may interest property owners in the same building looking for extra outdoor space.
Yet, since it was listed at the beginning of July, Jacobs has had almost 200 enquiries about the terrace – with a “mixed pot” of proposed uses.
“I’ve had people approach me about whether the lease would enable them to live in a tent on the terrace,” he says.
Others have enquired about the possibility of building a conservatory in the space, and about putting a table and chairs outside and using it as a painting or arts space. According to the lease, all these options are possible.
“It’s been really, really popular,” says Jacobs. “There’s such a shortage [of housing]. I hadn’t even considered that people would look to be more creative in regards to where and how they live.”
The property’s current owner, who lives in east London, bought the terrace as an investment. He is now selling to release the equity.
With the average property on Stanhope Gardens costing £1,388,750 and rooms in the postcode going for £1,006 per month, according to SpareRoom, Jacobs says he can see why people are considering other options.
Even so, the fact that a £50,000 balcony is being considered as a viable —even attractive— place to live serves as a stark reminder of London’s broken housing market.
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