[imagesource: Online Auctions]

The word ‘just’ is doing a lot of heavy lifting in the headline.

Two reasons – R1 million for seven square metres (yes, seven) is going to leave a mark, and it’s actually likely to go for more on auction.

The minimum price set by auctioneers is £50 000 (roughly R1 million), but the microflat should fetch a higher price given that it sold for £103 500 (around R2,1 million) in May 2017.

All of a sudden that odd rental in the Cape Town CBD seems spacious.

The microflat, located in Lower Clapton, will go under the hammer next week. ABC News has some of the basics:

The tiny unit features a raised bed, under which sits storage, a mini-fridge and space for a microwave. On the other side of the room, a sink and collapsible dining table.

A separate wet room rounds out the square metreage, with a toilet, sink and shower.

In all, the flat is a little over half the size of an average parking spot, or about the size of a compact four-person tent.

There is space to lay out six and a half bath towels, if you fancy.

Damn, they’re onto me. A house isn’t a home until I’ve laid out the bath towels.

We’ve all visited a friend’s apartment and they joke about giving you the grand tour.

Well, this is next level:

There you go. Tour done.

I suppose we can enjoy a photo of the cupboards:

For shits and giggles we go to the auction listing on Online Auctions:

The flat consists of: Studio room and separate wet room…

Newly renovated investment opportunity producing £9,600 per annum within a period conversion close to Homerton University Hospital and within walking distance of Homerton, Hackney Downs and Clapton Overground stations. as well as Chatsworth Road.

Long lease (994 years remaining) and producing a gross yield of 19.2% at the guide price.

Location, location, location.

For a dose of reality, though, we go back to ABC News:

The no-nonsense, just-the-essentials lifestyle on offer is being marketed towards single professionals looking for a place to lay their head and nothing more…

However, a potential resident commuting to and from a demanding corporate job will have to catch an overground train more than a 10-minute walk away before changing to the Tube to get into central London.

Maybe they should find out of they can work remotely and snap up a parking spot in Cape Town.

Some of those actually go for more than R1 million a pop but, to speak like an agent for a second, “the property does come with a cool sea breeze and is within walking distance of the beach”.

[sources:abcnews&onlineauctions]