A patch of pavement in Islington, north London has sold at auction for a hefty £125,000, from a reserve price of just £4,000.

The 560 square foot patch, in a busy central location by Camden Passage, used to contain a building and has been in private ownership since 1968.

Last week, the lot sold to another private buyer - though it is unclear how the investor will use the patch, which sites near the market stalls, cafes and shops of Camden Passage.

Chris Coleman-Smith, head of Savills auctions, said: "This unusual patch of land offered auction bidders the opportunity to invest in Islington for a fraction of the price of a property.

"The pavement area could simply be held as an investment, or potentially used for commercial purposes such as a location for Saturday market stalls or a mobile coffee shop subject to the requisite consents.”

According to the Land Registry, the average price of a property in Islington rose by 10.9% to £671,321 in the year to April.

It was unclear what use the investor has planned for the area.