Battersea alleyway sold for £260,000

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Battersea alleyway sold for £260,000
30th October 2014

If you thought the housing market was cooling off slightly, or were hoping so anyway, news of the latest sale in the capital may not be happy news.

A small passageway between two shops in Battersea, south London, has just sold for £260,000.

The area on the Northcote Road was recently granted planning permission for a 900 square foot living and work space. It has even been suggested that it will be turned into an artist's studio.

Estate agents suggest that a successful development could make this strip of land worth a small fortune.

The alleyway was listed at £55,000 when it went to auction but fetched more than four times that price.

One-bedroom properties in the area have fetched up to £500,000 and there’s no sign things are slowing down.

Estate agents report prices have risen by between 15% and 20% in the last 12 months alone.

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