An ex-council flat in WC2 has hit the headlines after someone shelled out over £1.2m for it.
The three-bed on Tavistock Street (right) was bought for £130k in 1990 under the Right to Buy scheme, and hit the market with a £1.35m price tag last month. After eventually selling at £1.21m (£1082 per square foot), it’s been dubbed “the UK’s most expensive ex-local authority flat”.
Agents Barnard Marcus confirmed the buyer was an owner-occupier, not an investor, and said they weren’t surprised at the sale price, considering where it is…
Barry Marner, Barnard Marcus: “The property is in a fantastic location, just behind the Royal Opera House and in the heart of Covent Garden. With central London property prices at a premium, and with demand for properties far outstripping supply, we weren’t surprised that this former council flat reached this impressive price.”
You may remember this two-bed in Chelsea came on at £1.15m earlier this year, thought to be the first ex-council flat to be valued at over £1m.
Read a report into the rise of London’s ‘blinged-up’ ex-council flats here
Tavistock Street image by Martin Addison (CC-BY-SA-2.0)