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Patch of London pavement sold for £125,000 Patch of London pavement sold for £125,000
(7 months later)
The streets of London may not be paved with gold, but a patch of pavement in north London has been sold for £125,000.The streets of London may not be paved with gold, but a patch of pavement in north London has been sold for £125,000.
The 560 sq foot section of high street near Islington Green was sold at auction to a private buyer.The 560 sq foot section of high street near Islington Green was sold at auction to a private buyer.
The reserve price on the lot was just £4,000.The reserve price on the lot was just £4,000.
The auction guide described Lot 153, located close to Camden Passage, as having potential "for a variety of uses" including as a place to locate an advert, a market stall or a "mobile coffee shop".The auction guide described Lot 153, located close to Camden Passage, as having potential "for a variety of uses" including as a place to locate an advert, a market stall or a "mobile coffee shop".
It was unclear what use the investor has planned for the area.It was unclear what use the investor has planned for the area.
Pavement area on #Islington Green with £4k guide, Lot 153, sells for £125k pic.twitter.com/8rfQLHqcR8
Chris Coleman-Smith, head of Savills auctions, said: "This unusual patch of land offered auction bidders the opportunity to invest in Islington for a fraction of the price of a property."Chris Coleman-Smith, head of Savills auctions, said: "This unusual patch of land offered auction bidders the opportunity to invest in Islington for a fraction of the price of a property."
The average property price in Islington is about £670,000.The average property price in Islington is about £670,000.