This house in Banbury costs the same as a garage in London

In Banbury �670,000 will buy you this detached five-bedroom home in South Side, Steeple Aston with �20,000 to spare.
In Banbury �670,000 will buy you this detached five-bedroom home in South Side, Steeple Aston with �20,000 to spare.
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A double garage in an upmarket part of London was sold yesterday (Monday) for a record-breaking £670,000.

The lockup is sandwiched between two large homes near the River Thames in Chelsea, south-west London.

The record-breaking double garage in London which fetched �670,000

The record-breaking double garage in London which fetched �670,000

Chris Coleman-Smith, from Savills Auctions, said: “It is like a little oasis in Chelsea. It is a fantastic spot, north of Cheyne Walk and south of the Kings Road.”

The auction house, which described the garage as being in “the best part of Chelsea”, gave it a guide price of £525,000 - two-and-a-half times the price of the average home in England and Wales.

Bidding quickly exceeded the estimate as investors battled it out to get their hands on the 332 sq/ft garage.

The new owner, a London-based phone bidder, managed to outbid a number of people with a final offer of £670,000 for the garage.

In Banbury �670,000 will buy you this detached five-bedroom home in South Side, Steeple Aston with �20,000 to spare.

In Banbury �670,000 will buy you this detached five-bedroom home in South Side, Steeple Aston with �20,000 to spare.

In Banbury £670,000 will buy you this detached five-bedroom home in South Side, Steeple Aston with £20,000 to spare.

The beautiful house - which is on the market with Chancellors Estate Agents - features a mature garden, that all important double garage and separate annex situated in a sought after and attractive village location.

The garage sale is - only slightly - less staggering when you consider that the current owner has secured planning permission to convert it into a one-bedroom home.

One bedroom flats in Banbury start at around £75,000 - the price of a property on West Street.

One bedroom flats in Banbury start at around �75,000 - the price of a property on West Street.

One bedroom flats in Banbury start at around �75,000 - the price of a property on West Street.

On top of the £670,000 spent on the garage, the new owner will also have to pay £23,500 in stamp duty.