The UK property market is so insane that air space above a flat is on sale for £10,000

The UK property market is soaring by the day, but now things have taken yet another insane twist as air space above a flat is put on the market for £10,000.

Space above 47 Northcote Road in Battersea in south London is up for sale with “landlords consent to develop” on top of the flat below, but it currently has no planning permission.

Auctioneer Phillip Arnold says the ‘land’ is offered “with vacant possession” and “a new 150-year lease with a peppercorn ground rent will be granted upon completion”.

If granted permission, a flat in the air space would be within walking distance of Clapham Junction station as well as Wandsworth and the River Thames.

Mr Arnold told the BBC the air space rental came after landlords owning nearby flats started to get permission on their own extensions.

He said the plot next door was being redeveloped with an additional storey and another, two doors down, had permission for the same.

Mr Arnold said: “You’d like to think there’s a better chance than most with this.”

He said the project was not a “straightforward build” with the buyer likely to incur further costs for things such as crane hire.

Mr Arnold added: “London has been through a big period of flat conversions.

“You get phases, and I think this will be one of them and people will just actively look for these things. They’re like buses; it’s the first one I’ve had for ages but about 18 months ago I had nine.

“I think you’re going to see a lot more of them. Sometimes if you’ve got a couple of people bidding the price will go through the roof.”

The original article can be found here

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