The 550 square foot boiler room in the basement of a central London mansion block is going to be auctioned with a guide price of £250,000 - because it has consent to be converted into a residential unit.
The Mirror reports that the boiler room will be auctioned by Savills in mid-December with proposals for it to be converted to a one bedroom home with an en-suite shower room and an open-plan kitchen/living room. There will also be a hallway with space to store a bicycle.
The newspaper reports that it is in the same Victorian apartment block, near Great Ormond Street, that an unexcavated basement recently sold for £150,000.
A Savills spokesman is quoted as describing it as "an exciting development opportunity" which is “located in Bloomsbury, a sought after area of central London where the average price of property has reached £768,669.”