article_snippet.sent: A three-bedroom apartment in one of the most expensive areas to live in Britain has been put on the market for just £575,000 - but the 'bargain' property comes with a catch.
article_snippet.sent: The cost would work out at £191,000 per year, or £15,000 per month - which is around the going rate for renting a three-bedroom flat in the area.
article_snippet.sent: The entrance to the flats in one of the most expensive areas to live in Britain where a three-bedroom apartment has been put on the market for just £575,000 .
article_snippet.sent: the property is being sold by Russell Simpson for £575,000 - the same price as a three-bedroom house in Stanmore, Middlesex.
article_snippet.sent: It is one of two maisonettes being sold  with three years remaining on the lease.
article_snippet.sent: Both homes will need to be modernised, with the second, larger property - also on Egerton Place - on the market for £595,000.
article_snippet.sent: The cost for £575,000 on a three year lease would work out at £191,000 per year, or £15,000 per month - which is around the going rate for renting a three-bedroom flat in the area, plus renovation works which are needed, such as in the living room (pictured)
article_snippet.sent: In modernised condition, We would estimate they would sell for between £2,750 and £3,000 per sq/ft.'
article_snippet.sent: This gives the smaller property a £6 million prices tag, while the larger maisonette with 2,500 sq/ft of space could be worth £7.5 million.