This house in Wakefield costs the same as a garage in London

The house in Newmillerdam is being offered for sale by Reeds Rains for
The house in Newmillerdam is being offered for sale by Reeds Rains for
Share this article

A double garage in an upmarket part of London was sold today for a record-breaking £670,000.

The lockup is sandwiched between two large homes near the River Thames in Chelsea, south-west London.

This double garage was sold today for a record-breaking �670,000.

This double garage was sold today for a record-breaking �670,000.

Chris Coleman-Smith, from Savills Auctions, said: “It is like a little oasis in Chelsea. It is a fantastic spot, north of Cheyne Walk and south of the Kings Road.”

The auction house, which described the garage as being in “the best part of Chelsea”, gave it a guide price of £525,000 - two-and-a-half times the price of the average home in England and Wales.

Bidding quickly exceeded the estimate as investors battled it out to get their hands on the 332 sq/ft garage.

The new owner, a London-based phone bidder, managed to outbid a number of people with a final offer of £670,000 for the garage.

In Wakefield, £650,000 - £20K less - will buy you this six double bedroomed exclusive detached house in Newmillerdam, which boasts seasonal views across The Dam in a much sought after area

The garage sale is - only slightly - less staggering when you consider that the current owner has secured planning permission to convert it into a one-bedroom home.

One bedroom flats in Wakefield start at around £87,000.

Previously, a garage in Stoke Newington, London, sold for £309,000 against a guide price of £160,000.

For that price in Wakefield you could buy a four bedroom detached house in Sandal.

On top of the £670,000 spent on the garage, the new owner will also have to pay £23,500 in stamp duty.