A double garage in an upmarket part of London was sold for a record-breaking £670,000 this week.
The lockup is sandwiched between two large homes near the River Thames in Chelsea, south-west London.
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 Tring £670,000 will buy you this substantial four bedroom semi-detached family home which has been sympathetically extended on Friars Walk and leave you with £20,000 to spare.
The property, which is on the market with Hunters Estate Agents, is located within close proximity to Tring High Street and offers spacious, flexible accommodation with a generous master bedroom including en-suite shower room and dressing room. The exterior provides driveway parking for multiple vehicles, that all important double garage and a mature rear garden.
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 Tring start at around £144,000 - the price of a property at Wingrave Road.
On top of the £670,000 spent on the garage, the new owner will also have to pay £23,500 in stamp duty.