An ex-council flat in London has sold for £1.2 million, more than 9 times the initial purchase price, in what is reportedly the biggest amount ever paid for an ex-local authority property.
The three-bed flat in Covent Garden was one of the most expensive former council properties ever sold in central London – despite not achieving its asking price of £1.35 million.
The seller purchased the property, just behind the Royal Opera House, off the council for £130,000 in 1990 under the Right to Buy scheme. Following the sale, it means they pocketed a difference of £1.08 million.
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Don’t forget the offer of 3 for 2 across all formats The three-bed flat in Covent Garden was one of the most expensive former council properties ever sold in central London – despite not achieving its asking price of £1.35 million.
The seller purchased the property, just behind the Royal Opera House, off the council for £130,000 in 1990 under the Right to Buy scheme. Following the sale, it means they pocketed a difference of £1.08 million.
A place of historic splendour, tireless innovation, wide-open green spaces and tightly packed architectural marvels, London has it all: take your pick.
Coverage includes: Planning chapters, The West End, The City, The South Bank, Kensington & Hyde Park, Clerkenwell, Shoreditch & Spitalfields, The East End & Docklands, Hampstead & North London, Notting Hill & West London, Greenwich & South London, Richmond, Kew & Hampton Court, Day Trips, Understand London and Survival Guide.
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