A small garage has gone on the market for an eye-watering £1.2million, but the ordinary-looking building tells only half the reason why.
The sale comes with a tennis court thrown in as part of the price, but it is the plot's location that is the reason for the seven-figure sum.
The shed is in one of the most exclusive areas in Newcastle where properties command a premium - even if they look a bit run down.
ChronicleLive reports that the property is located in Graham Park, Gosforth.
This is one of the most exclusive streets in Newcastle if not the whole of the North East, where properties sold for an average price of £1,623,000 over the last year.
A six bedroom detached property two houses down from the site sold for £1,375,000 in October 2018, more than three and a half years ago, and average prices have risen sharply since then.
For buyers looking to snap up a plot in the area, the garage could be a steal well worth seven figures.
The sale offers an opportunity for the buyer to undertake a self-build project in the heart of Gosforth’s Conservation Area.
Its tree-lined location often attracts the region’s higher-budget family buyers, drawn by the area’s fine late 19th century architecture, mature gardens and proximity to outstanding amenities and schools.
The road is frequently referenced as one the region’s most expensive and desirable streets.
Property sellers say the plot extends to 760 square metres and has planning permission for a detached dwelling which will on completion would offer approximately 450m² of gross floor area across three levels
Sellers also say plans are available for detached dwelling in one of the region's most sought after addresses
A listing on RightMove reads: "An exciting opportunity to undertake a self-build project in the heart of Gosforth’s Conservation Area.
"The tree-lined street of Graham Park Road often attracts the region’s higher-budget family buyers, drawn by the area’s fine late nineteenth-century architecture, mature gardens and proximity to outstanding amenities and schools.
"The road is frequently & consistently referenced by local media outlets when publishing pieces on the region’s most expensive & desirable streets.
"The plot extends to 760 square metres and has planning permission for a detached dwelling which on completion would offer approximately 450m² of gross floor area across three levels.
"High quality plans are available via Newcastle City Council ‘Public Access’ service or by request from Bradley Hall Gosforth."
The plot is for sale with a guide price of £1.2m and is being marketed by Bradley Hall Chartered Surveyors & Estate Agents.
