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For many people, it’s the last place in the world they’d like to end up.
But now budding real estate investors can buy a London alleyway – just wide enough to store a set of wheelie bins – and call it their own.
The attractive L-shaped plot of land in Enfield, in the north of the city, comes without a property or even a roof to shelter the occupant from the capital’s famously unpredictable weather.
This is not to say the patch is without its selling points, however. The alleyway is said to boast ‘good connectivity’ to adjoining roads, according to Rightmove.
And that’s not all – the listing raves the land is ‘located in a well-established and affluent residential area’.
Those looking to get a foot on the slippery London housing ladder can grab a bargain, with this unique corner of the city available for just £1,500.
The alley stretches alongside and behind a neighbouring house and is separated by a wall and a fence.
A listing states: ‘The seller does not occupy the property and has little knowledge of it.’
Investors can buy a London alleyway in Enfield, pictured, for the bargain price of £1,500
The unusual plot of land highlighted in red. It comes without a property or even a roof to shelter the occupant from the elements
The sale is being overseen by Auction Estates, a property auctioneer in the Midlands, and will go to auction on April 23 at Nottingham Racecourse.
Company director Paul Giles told The Telegraph the plot was being sold by a ‘London-based company that is cleansing pieces of land in their portfolio’.
He added: ‘Auctions are a good way of having a spring clean and quickly.’
Those left excited by the thought of owning this unusual portion of land are likely to be disappointed as Mr Giles explained it is likely to be snapped up by a neighbour.
‘It makes it more straightforward to sell the property if you own this piece of land,’ he said. ‘Otherwise, lawyers may query who owns the path next door.
‘It might even allow you to do a small extension. These parcels of land are incredibly cheap but might add value to your property.’
Hope is not lost, however. Auction Estates is also expecting bids from ambitious investors looking to monitor the value of land over a longer stretch of time.
Smart buyers are known to pick up plots across the UK and cash in when the surrounding area receives a wave of investment and becomes more developed.
Enfield’s average house price hit £473,000 in January, according to the latest figures from the Office for National Statistics.
The alleyway, pictured, is said to boast ‘good connectivity’ to adjoining roads
The plot stretches alongside and behind a neighbouring house and is separated by a wall and a fence
Auction Estates’ website also shows off a host of similar plots of land, from the poky to the peculiar.
One in Cheshire listed for £1,000 involves an L-shaped portion of grass seemingly tucked in between two larger gardens.
Elsewhere, a triangular plot of open grassland in the middle of a country village in South Yorkshire is available for the same price and borders a public footpath.
And one slightly more expensive listing involves 10 lock-up garages in the heart of Newark, Nottinghamshire, even boasting a ‘workshop building’ on site, available for £125,000.
