Two rooftops in London offered for sale at Rs 7 crore

London A two-terrace house in northern England has been put on the market for more than a three-bedroom house.

A 1600 square foot double terrace in Kensington, London last week Property It was offered for sale in the market for two lakh pounds (about seven crore Pakistani rupees). By contrast, just £150,000 can buy a three-bedroom house in Birwan Furness, Cumbria.

Next Home Ltd agent Glenn Jacobs said the terraces, near London’s Natural History Museum, are connected and have separate registered addresses and ownership documents. The site is being advertised as a ‘unique opportunity to build a custom home or build profitably’. They are accessible from inside the building and facilities like water or electricity are not available.

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The property’s owner, a retired lord, bought the terraced property in 2012 for £96,000. They have not done any construction on the terraces and now they have decided to sell it. Flats on Gloucester Road sold for an average of £862,000 over the past five years, with the last house selling for £2.925 million.

In December last year, a self-contained terrace in west London was sold for tens of thousands of pounds so that a buyer could use it for parking. The 128 sq ft property in Stanhope Gardens, South Kensington, was listed with an estate agent for £50,000 in July this year. It was sold for £35,000 and the new owner agreed to pay a £1,300 annual service charge to park his car.

The agent overseeing the sale said it was understandable for the new owner, but it was a sign of the times when the poor are getting poorer and the rich are getting richer. He said, ‘It seems reasonable to spend this money instead of spending money on buying another property in the area without a parking space.’

The figures show that rents in London have risen by around 12.1% over the last year, now averaging £2,627 a month. According to the Office for National Statistics, this England is above average and the highest annual rate since London records began in January 2006.