Studio flat smaller than a PARKING SPACE sells for £90,000 – way over the asking price

A TINY flat smaller than a parking space has sold for £90,000 - almost DOUBLE the asking price.

The 75sq ft (7sq m) flat in Hackney, East London - believed to be the capital's smallest - was put on the market for £50,000 through My Auction.

But it ended up selling for £90,000 after the guide price was raised to £75,000.

The tiny flat, which is in an imposing Victorian home, boasts just one room and an adjoining bathroom.

There is no kitchen but there is a microwave and cupboard with some shelving and drawers.

Above the makeshift cooking area is a single bed that spans most of the area of the studio.

There is also a sink with a TV above it and a foldaway shelf that could be used as a dining table or desk.

The wetroom is basic with a shower, toilet and sink crammed inside.

Despite its size, the flat is currently let out for £800 per month - £9,600 per year - making it one of London’s highest yielding rental properties.

It has 992 years remaining on the lease, with a ground rent of £1 a year, but due to its size, it is understood buyers would not be able to obtain a mortgage.