London House prices: Four-bedroom flat in South Kensington on sale for just £300,000 - but there's a catch
02-17-2021
By Tom Haynes Reporter
You might think this looks like a bargain but you won't be there for long (Image: Zoopla)
Look there aren't many instances where you can reasonably say £300,000 qualifies a bargain but bear with me.
Ordinarily, a four-bedroom flat in South Kensington would set you back millions rather than mere hundreds of thousands - like this one going on Zoopla right now.
The property is located on Onslow Square and has a sexy SW postcode.
It's around the corner from the likes of Kensington Palace, Harods department store and the Royal Albert Hall.
Not to mention one of the world's most expensive roads, Kensington Palace Gardens, where Roman Abramovich lives.
South Kensington is a tourist hotspot - people love the Natural History Museum (Image: Sunday Mirror)
The home is described as an "unmodernised four-bedroom lateral apartment" and is on the fourth floor of the "purpose-built portered mansion block."
It stretches over a luxurious 1,459 square feet which is probably more room than you have right now.
Do you reckon any of the other Londons can compare with our stunning capital city?
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The thing is, the lease only has six years left on it, and if you're still in the property after that point you'll have to cough up to renew it.
How much can renewing a lease really cost? I hear you ask.
Well, Zoopla estimates it would set you back, ahem, a cool £1.4 million.
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Yes, this is in line with the average house price for the area, but it would technically come on top of the £300,000 you already paid for the property.
In the last 12 months, houses and flats sold in the same area (of which there have been 57) have gone for an average of £2 million, so by comparison maybe this is still a bargain.