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£150,000 for mud and no permission in Bloomsbury

by DevAssist Team on November 13, 2015 No comments

If proof were ever needed of the ongoing demand for basement space in London, this month, the amount of cash paid smashed all expectations, after a developer signed over a staggering six-figure sum for the mud underneath an existing block of flats.

The ground underneath a London mansion block was sold for £150,000 at auction as an ‘unexcavated basement’. It has no planning permission and it is believed to be the first time that such a deal has been struck where the developer must work around – or rather below – existing homes.

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DevAssist Team£150,000 for mud and no permission in Bloomsbury