London agency Barnard Marcus has secured what is believed to be a record sale price for a former council flat - a cool £1.21m.
The two bedroom unit on Tavistock Street in Covent Garden is part of the ex-council mansion block Siddons Court and sold after just six weeks on the market.
The sale comes just a few months after the previous most expensive former council flat in London, on Fulham Road above the Stella McCartney store, came on to the market at £1,15m.
The Tavistock Street apartment was originally a council flat that was bought off the council in 1990 under the Right to Buy scheme for £130,000; the vendor was the same person who bought it 25 years ago.
Barnard Marcus, perhaps with a mind to recent criticism of Right To Buy fuelling the private rental market, has emphasised that the purchaser is an owner-occupier and not an investor. The asking price was £1.35m.
“We understand that many of the properties are still council owned but not sure what the split is between private and council” says a spokesperson for the agent.