This house in Leighton Buzzard 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 Leighton Buzzard £670,000 could get you this large five-bedroom detached house on the exclusive Heath Road.

Upon stepping into the house - which is on the market with Chewton Rose Estate Agents - visitors will be surprised by the amount of living space that opens up before them. The unique property was designed and built by the current owner and her husband to ensure it offered them everything they were seeking from a family home while also making the most of its exceptional position.

The London 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 Leighton Buzzard start at around £135,000 - the price of a property at Millstream Way.

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