Rumours of Chelsea's demise are greatly exaggerated, it seems – after a miniature house in the London neighbourhood sold for a whopping £713,823. That's more than £100,000 above asking price.
The tiny home, which we wrote about back in February, was on sale at £600,000. Sounds like a bargain for a home in the heart of Chelsea overlooking a bright square. But the catch is, it's only 290 sq ft – plus it needs a full revamp.
Today Douglas & Gordon, the estate agent instructed to sell the one bedroom, one bathroom property, said it had conducted more than 100 viewings and had 18 offers, but was eventually bought by Robin Swailes, a former executive at pharma giant Astrazeneca, who reckons the investment will outperform his pension by more than 30 per cent over the next 10 years.