You can buy a basement flat in this popular London area for just £159,000 — but there’s a catch

From nuclear bunkers to Victorian boathouses, there are no shortage of wacky ways to get on the UK property ladder.

Now, an opportunity to buy a basement flat in the cosy North London suburb of Crouch End has arisen – and it’ll cost you just £159,000.

You might be thinking, ‘that’s cheap for London!’. And yes, dear reader, you’re correct: in May 2024, Gov UK data showed that the average cost of a London property was £523,000, compared to £209,000 up in Yorkshire and the Humber.

As always though, there’s a bit of a catch. While it may be a bargain, the place needs a full refurbishment, as it’s currently unliveable.

Described as a ‘self-contained basement’ already complete with its own front door (what more do you need?), this is certainly a project and a half to take on.

It’ll need a full conversion and, according to agent Frognal Estates, is ‘subject to obtaining the necessary consents’. This means that technically, it doesn’t qualify as a flat at present, but could become one if you apply for permission.

Although it does currently look like a building site, there’s at least a toilet – it’s not abundantly clear whether this is plumbed in, but it’s a start.

Despite being advertised as a studio, pictures seem to show a couple of different ‘rooms’ inside the property, the square footage of which isn’t featured on the listing.

Location-wise it’s got plenty going for it though, just moments away from the buzz of Crouch End Broadway, tucked just behind the Famous Clock Tower.

If you’re a commuter, you’ll benefit from its prime spot: 0.5 miles from Hornsey Station and 0.8 miles from Crouch Hill, with the W7 bus to Finsbury Park accessible from the Broadway. For the Piccadilly Line, Turnpike Lane is approximately a mile away.

Undoubtedly a trendy location, Crouch End was ranked as one of the best places to live in London by The Times as part of its Best Places To Live 2024 Guide.

Characterised by an array of brunch spots and charity shops, the neighbourhood is popular with young professionals and families alike.

It’s also a significant cultural hub, home to an impressive two cinemas (the Picturehouse and the ArtHouse, no less), as well as the annual Crouch End Festival, hosting poetry and live music.

Locals love living there too..

‘Crouch End is a North London middle-class haven,’ @HomeStar_UK previously wrote in a Crouch End-dedicated Reddit thread.

‘This is a Waitrose, Budgens and M&S kind of area – with all three on the high street. There are also a record 11 fancy hairdressers.

‘Crouch End’s best quality however is its friendly village bubble feel, with every amenity one could want within a 5–10-minute walk.’

So, what are you waiting for? If you’re up for donning a hard hat and high vis, you could become part of this bustling community for a snip.

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