Dirty Stairwell Behind a Starbucks Goes on Sale for $25k in Latest Example of Real Estate Market Madness

An unused four-story stairwell is currently up for auction in London, with bidding starting at £20,000 (approximately $25,670).

This unusual listing sheds light on the increasingly frenetic state of the real estate market, particularly in major cities. The auction, hosted by Barnard Marcus Auctions, is scheduled for August 1, and while most of the items on the list are plots of land, buildings, or houses, the stairwell stands out as an intriguing and unconventional opportunity.

Located in south-west London, the stairwell once served a purpose behind a Starbucks but has long ceased any functional use. A video tour of the stairwell reveals its current state of disarray, as it appears neglected and cluttered with various items. Despite its condition, the stairwell's symbolic value attracts potential buyers.

What can one possibly do with a four-story staircase? The possibilities are endless, as the listing merely hints that it "may be suitable for development subject to planning permission and consents."

Since the stairwell is no longer connected to any building, the highest bidder will have the freedom to relocate it wherever their heart desires.

This auction is the latest testament to the astronomical surge in real estate prices within urban centers. The Guardian reports that London's average property value has escalated by a staggering 63% over the past decade.

Similar skyrocketing costs have been observed in cities such as New York and Singapore, further accentuating the challenges of the current real estate landscape."