A flat the size of a bathroom in Mayfair, London has been rented out within 40 minutes of appearing on the market.
The tenant moved into the 301 sq ft flat just two hours after paying a £10,000 advance to secure the tenancy.
Within 15 minutes of the flat appearing on its website, the lettings company EJ Harris had received more than 200 email and telephone inquiries about the property, illustrating just how competitive the capital’s lettings market has become.
The winning tenant is believed to be a woman in her 30s who works as a manager in one of the five-star hotels on Park Lane and was desperate for a home close to work. She was however adamant that she did not want to buy, but instead opted for a six-month tenancy.
In order to beat of the four other serious bidders, the tenant didn’t even visit the flat and paid all £10,000 – the deposit, the full rent and letting agent fees – up front.
The flat has a small living area which leads into a compact open plan fully fitted kitchen, dining room, bedroom with wardrobe space and a shower room, and is located on Pollen Street, just off Regent Street, near Oxford Circus Tube station.
“The speed of this deal and the battle to secure the tenancy is the clearest indicator yet to me how buoyant and hot London’s letting market is at present. The tenant has a highly successful career working in the hospitality industry in the West End and needed a home nearby, she was very firm about wanting to rent not buy,” explains Elizabeth Harris, Managing Director of E J Harris.
“If it was a swanky flat in Mayfair’s posh western district I would expect it to fly out of the door, but this is an “ordinary Londoner” apartment on the eastern Soho border by Regent Street. It’s the ordinary nature of this that makes it so extraordinary,” adds Harris.
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Photos: EJ Harris