A London apartment is under the hammer later this month, with what would appear to be a bargain guide price of just £900,000. However, the property has just three and a half years left on the lease, with only a 20 year extension available, costing an additional £4.6m.

The property, 90F Eaton Square, Belgravia, has almost 3400 sq ft of living space and comprises a six bedroom ground floor apartment. Nearby transport links are provided by Sloane Square underground station and London Victoria railway station.

Auction House London Auctioneer Andrew Binstock, who is handling the sale said: “This is an opportunity to acquire one of the best addresses in the UK at an unbelievably low starting price. It may come with a hefty sum to extend the lease, but once that has been carried out, I would estimate its value to be in the region of £10m – so there’s a real chance to make money here.”

The auction takes place on 23rd February.