BRITAIN’S smallest million-pound house has gone on the market – a studio flat the size of a hotel bathroom.
The pint-sized pied-a-terre is spread across just 328 sq/ft – making it just over a third of the size of a new build in the UK.
It is made up of a joint living and sleeping area along with a small kitchenette and shower room.
At £950,000, the newly refurbished studio flat at 42 Upper Brook Street in Mayfair is more than five times the average price paid for a home in England last month.
The owner will also have to pay a further £38,000 in stamp duty and then stump up a £2,200 per year service charge. Incredibly, the estate agency selling the studio, Wetherell, describes it as “Mayfair’s biggest bargain”.
The flat is sold with a 100-year-lease, so the total price paid will work out at around £1,020 per calendar month. This compares to a rent of £2,500 per month for a typical studio flat in the area.
The flat is also a classic example of a purpose built Mayfair “dower flat” – a property once used by genteel widows during the Victorian and Edwardian Downton Abbey era.
Mayfair dower flats were deliberately compact to keep maintenance and cost to a minimum. The Dowager Countess of Carnarvon (the real Downton Abbey), the Dowager Countess of Portsmouth, Dowager Lady Deere and the Dowager Countess of Stafford all had Mayfair flats. It is thought that during the late 1920s, Lady Virginia Champneys, widow of Sir Francis Champneys, lived in a flat at 42 Upper Brook Street.
However, it is more likely this studio flat will be lived in by a super-rich foreign student or used as a pied-a-terre.
The flat has a living/entertaining area with wooden floors, ceiling spotlighting, room for a double bed.
There is also a walk-in shower and a fully fitted kitchen and the total floor space is no bigger than a bathroom suite in some upmarket hotels.
Peter Wetherell, chief executive of Wetherell, said: “Compact yet chic this purpose built Mayfair studio would historically have served as a dower flat for an aristocratic lady from the ‘Downton Abbey’ era.
“Now fully modernised it would provide the perfect Mayfair pad for an overseas student studying in London from a wealthy family or a socialite who wants a Mayfair address but at a lower cost.”