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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