A £2m apartment in South Kensington could be bought for a tenner after its developers announced plans to dispose of it via a ‘raffle like no other’.
The apartment, close to Kensington Palace, offers two bedrooms and two bathrooms. It features high end interiors from Camerich and Buster & Punch, and will come complete with designer furnishings. Tickets are now on sale.
Stamp duty, the first year’s service charge, council tax and legal fees will also be included. Buyers will be able to live in the property, sell it or rent it out.
The apartment is being raffled by London based residential developers Gatsby Property and is listed on their Cadivus website.
Raffling a house is not an entirely new concept of course but it is rare for such high end property. The property’s price and location puts it squarely in the uncertain (at the moment) prime central London market. So it is interesting to muse whether the raffle is intended for buyers desperate to find an affordable home here, or for developers desperate to shift it for the price they require.