Support 100 years of independent journalism.

  1. Business
  2. Economics
20 August 2013updated 26 Sep 2015 10:01am

The picture that reveals the madness of the London housing market

A “1 bedroom studio” in Highgate Village turns out to be little more than a garage with a shower in it.

By Caroline Crampton

It’s well-known that the London property market has long been completely absurd, but the Highgate branch of estate agents Winkworth have now furnished us with fresh proof of its utter insanity.

They are offering a “1 bedroom studio” in Highgate Village for £250,000 (or £300 a week to rent).

Steep, yes, but sadly that’s not out of the ordinary for London. That is, until you look at the picture of the flat:

It’s a garage behind another property, in which a small corner has been partitioned off to house a shower and a toilet:

Select and enter your email address Quick and essential guide to domestic and global politics from the New Statesman's politics team. A weekly newsletter helping you fit together the pieces of the global economic slowdown. The New Statesman’s global affairs newsletter, every Monday and Friday. The best of the New Statesman, delivered to your inbox every weekday morning. The New Statesman’s weekly environment email on the politics, business and culture of the climate and nature crises - in your inbox every Thursday. Our weekly culture newsletter – from books and art to pop culture and memes – sent every Friday. A weekly round-up of some of the best articles featured in the most recent issue of the New Statesman, sent each Saturday. A newsletter showcasing the finest writing from the ideas section and the NS archive, covering political ideas, philosophy, criticism and intellectual history - sent every Wednesday. Sign up to receive information regarding NS events, subscription offers & product updates.
  • Administration / Office
  • Arts and Culture
  • Board Member
  • Business / Corporate Services
  • Client / Customer Services
  • Communications
  • Construction, Works, Engineering
  • Education, Curriculum and Teaching
  • Environment, Conservation and NRM
  • Facility / Grounds Management and Maintenance
  • Finance Management
  • Health - Medical and Nursing Management
  • HR, Training and Organisational Development
  • Information and Communications Technology
  • Information Services, Statistics, Records, Archives
  • Infrastructure Management - Transport, Utilities
  • Legal Officers and Practitioners
  • Librarians and Library Management
  • Management
  • Marketing
  • OH&S, Risk Management
  • Operations Management
  • Planning, Policy, Strategy
  • Printing, Design, Publishing, Web
  • Projects, Programs and Advisors
  • Property, Assets and Fleet Management
  • Public Relations and Media
  • Purchasing and Procurement
  • Quality Management
  • Science and Technical Research and Development
  • Security and Law Enforcement
  • Service Delivery
  • Sport and Recreation
  • Travel, Accommodation, Tourism
  • Wellbeing, Community / Social Services
I consent to New Statesman Media Group collecting my details provided via this form in accordance with the Privacy Policy

The good news, though, is that there’s space to park your sports car right by the extremely wide door.

UPDATE:

According to this Evening Standard story from April 2012, there’s some unusual restrictions on the property – the “new owner will only be able to spend a couple of nights a week there due to a clause in its lease.” From the current Winkworth listing, it’s pretty clear that it’s intended as residential (it’s listed as a “1 bedroom studio”, after all, and has a shower installed), although the description lower down mentions that it is “a freehold, self-contained commercial unit with office use”.

(H/t @MattHolehouse)