This house in Northampton costs the same as a garage in London

The lockup is sandwiched between two large homes near the River Thames in Chelsea, south-west London.

Chris Coleman-Smith, from Savills Auctions, said: “It is like a little oasis in Chelsea. It is a fantastic spot, north of Cheyne Walk and south of the Kings Road.”

The auction house, which described the garage as being in “the best part of Chelsea”, gave it a guide price of £525,000 - two-and-a-half times the price of the average home in England and Wales.

Bidding quickly exceeded the estimate as investors battled it out to get their hands on the 332 sq/ft garage.

The new owner, a London-based phone bidder, managed to outbid a number of people with a final offer of £670,000 for the garage.

In Northampton £675,000 could buy you this handsome detached four-bedroom family home located close to the Abington Park and on a main bus route.

Built in the early 1900’s the property - which is on the market with Jackson Grundy Estate Agents - has been refurbished throughout whilst still retaining its original character features which include, wood block flooring, picture rails and deep skirting boards.

The full accommodation consists of: Entrance porch leading to entrance hall, dual aspect sitting room with wood burner and views across the delightful rear garden, dining room, ‘P’ shaped conservatory with doors to the rear and side gardens, a kitchen/breakfast room with integrated appliances and space for seating, utility room and WC, master bedroom with contemporary fitted furniture and thee piece en suite, three further bedrooms and four piece family bathroom.

Outside the south facing rear garden is a lovely size and has been landscaped to a high standard. To the front are electric double gates and a generous size driveway, leading to - you guessed it - that all important detached double garage.

The garage sale is - only slightly - less staggering when you consider that the current owner has secured planning permission to convert it into a one-bedroom home.

One bedroom flats in Northampton start at around £64,995 - the price of this property at Barrack Road.

On top of the £670,000 spent on the garage, the new owner will also have to pay £23,500 in stamp duty.