One-bed city flat on sale for £3m

The first floor flat is in an exclusive neighbourhood

A one-bedroom flat in one of London's most exclusive areas has been put on sale with a price tag of nearly £3m.

The 1,200 sq ft first floor property in Eaton Place in Belgravia, central London, is currently on the market for £2,750,000.

The value of the flat may go up by £300,000 if the owner increases the current lease period.

A few months ago a similar property in nearby Cadogan Square went for about £3m.

'High ceilings'

In the last few years property prices in London have risen annually by about 15%.

Although the flat only has one bedroom, it has been described as being as spacious as a three-bedroom house.

Alex Stroud, from estate agents Savills which is dealing with the property, said: "This really is the most fabulous one-bedroom flat on the first floor of a white stucco-fronted building in Belgravia.

"The proportions are wonderful - with elegant and well-proportioned rooms with high ceilings."