Small Apartment in London Very Expensive
KAYE: So how much would you pay to live in an apartment that is only 10 feet by eight feet? That is about the size of some parking spots, or a garden shed. But in the U.K., it's actually getting bids of more than a quarter million dollars. Richard Quest reports.</s>RICHARD QUEST, CNN INTERNATIONAL CORRESPONDENT: Some are compact, others bijou. Then there's flat 8-f. Nothing quite prepares you for something so small. This is it, all of it. There is no more. I can't touch from one side to the other without hitting the wall. I am 6'1" tall. And this is the length of the flat. The apartment is a converted porter's toilet and cloak room. It tasks even the estate agent's vocabulary.</s>UNIDENTIFIED MALE: Unusual, unique, interesting market opportunity. I would point out the high ceiling, the natural light coming through, the refurbishment, the location.</s>QUEST: The original asking price of $145,000 has been well exceeded. The current top offer is believed to be around $280,000 for one simple reason, the old rule location, location, location. This tiny apartment is in the best part of London and next to the top people's department store Herrod's.</s>UNIDENTIFIED MALE: With this post you're going to get a hell of a lot of interest.</s>QUEST: The demand for this unique property has been intense, more than 100 viewings, a dozen offers. Ironically, the winner is likely to be an investor from Greece.</s>KAYE: Richard Quest reporting there. We have much more ahead in the next hour of CNN SATURDAY MORNING, which starts right now.