A luxury apartment in one of London’s most expensive squares where flats sell for £30million, is going to auction with a guide price of just £90,000.

The two-bedroom, two-bathroom property is in Eaton Square, which has been home to billionaires, politicians and celebrities over the years.

But while the average price of an apartment sold at the Belgravia address is more than £7 million this year, this pad is expected to sell for less than half the average home in England.

So whoever buys the flat will have to either permanently leave at the end of June 2018 or pay the freeholder, the Duke of Westminster, £900,000 to extend it for another 20 years.

But despite the lease extension cost, it is still thought a buyer could make a tidy profit when they go to sell.

The apartment, which has a lift, porter service, exclusive communal gardens with a tennis court, will be sold by Auction House London on 2nd June.

Andrew Binstock, auctioneer, said: “Eaton Square is one of the most desirable addresses in London. It is a stunning location and this is an unbelievable opportunity.